Yakimenko K. Features of the function of wages during the crisis.

Abstract

The article describes the basic functions of the implementation of the wage and analyzes its trends in the modern world. As part of the reproductive function of wage dynamics investigated the level of wages in Ukraine and compared with the level in the European Union, with the result that it is determined that in recent years, the minimum wage growth rate is reduced relative to the national currency to the dollar. On the part of the motivating function is considered growth in real average wages and its impact on productivity, it is found that with a reduction in the rate of growth in real wages observed and lost productivity. Considered the employment structure by economic activities in Ukraine from the perspective of the functioning of the regulatory function. In reviewing the implementation of the social function of the wage structure of analyzed elements of labor costs in Ukraine and in the European Union. An analysis of the main trends of wages determined features of the implementation functions of wages during the crisis. The article defines the major consequences of the impact of the crisis on wages: freezing and reducing wages, curbing the growth of the minimum wage relative to the dollar, the decline in real wages and, as a result, reduced productivity, debt increase of wages, increase in the shadow economy.