Abstract
The quality of life of people inter alia depends on their economic well-being. The direct source of their well-being is their wage paid by employers. Any economic crisis that impacts the biggest industrial employers in a region directly translates into the deteriorated quality of life of people. This article describes several transmission channels of the two major global crises which have been following covid pandemic and military conflict in Ukraine. Transmission of crisis phenomena into the well-being of people is provided by explaining the importance of the automotive industry for the Slovak Republic and the values of employment and hours worked indices are provided as supporting evidence. The mechanism of increased scarcity is described in the case of increased raw material prices on the global market which resulted in the decreased production in the automotive industry.
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