MANAGING THE PROBLEMS OF LABOUR REMUNERATION AS AN IMPORTANT FACTOR OF THE ECONOMIC GOVERNANCE OF THE COUNTRY

Abstract

Abstract. The article reveals the feasibility of resolving the problems of labour remuneration for managing the economy of the country. It is proved that decent labour remuneration is one of the important factors that contributes to the social and economic development of the country. The purpose of the research is to study the issue of labour remuneration, in particular, defining the optimum size of the wage for meeting the social needs of a worker and his/her family; to analyse the main problems of setting the minimum wage in national and foreign practice; to consider the features of setting the substantiated size of the subsistence minimum and its correspondence to constitutional norms. It is noted that the process of setting the substantiated size of the subsistence minimum in Ukraine is provided with the legal framework, but in practice legal provisions are ignored. The authors analyse the current problems of labour remuneration that concern debts and strengthening inequality in the payments. Taking into account the fact that the reduction of the minimum wage growth causes the economic slowdown and the ineffective use of labour potential, the authors give proposals about the increase of minimum wage that should base on creating favorable conditions for development of country economy. Thus, the process of alignment of the wage growth and economic revitalization must have a systematic nature which includes the state support of national producers, has sound monetary policy and program of priority tasks that concern the development of industrial branches. It is proved that the social and economic situation in the country improves if there is a high level of wages. If the minimum wage amount is optimum, the compromise between the social needs of population and economic opportunities of the society is reached. Based on the conducted research, the authors propose the measures for further regulating the labour remuneration as an important factor of managing the country economy in the modern world. Keywords: labour remuneration, minimum wage, nominal and real wages, subsistence minimum, economy. JEL Classіfіcatіon: E64, I31, J08, J31, N30 Formulas: 0; fig.: 1; tabl.: 3; bibl.: 24.