THE PERSPECTIVE OF THE EVOLUTION OF THE EARNINGS ON THE ECONOMY IN THE CONDITIONS OF THE PANDEMIC AND ECONOMIC-FINANCIAL CRISIS

Constantin Anghelache, Madalina-Gabriela Anghel and Stefan Virgil Iacob
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Constantin Anghelache: BUCHAREST UNIVERSITY OF ECONOMIC STUDIES / ARTIFEX UNIVERSITY OF BUCHAREST
Madalina-Gabriela Anghel: ARTIFEX UNIVERSITY OF BUCHAREST
Stefan Virgil Iacob: ARTIFEX UNIVERSITY OF BUCHAREST

Annals - Economy Series, 2021, vol. 1, 114-123

Abstract: The main objective of this study is to highlight the way in which the earnings evolved in 2020 in the conditions of the current health and financial-economic crisis. We used databases of the National Institute of Statistics and we used the appropriate statistical-econometric methods. Thus, the dynamic indices and series method was used and a regression model was constructed, based on which future evolutions were estimated. The results obtained reveal the prospect of reducing the total income and especially wages of the population, which causes deterioration in living standards. Below are some significant aspects in this area. Romania's economic and financial situation had an upward evolution until December 2019, even March 2020, after which, as a result of the effects of the pandemic crisis, and in the field of earnings on the economy, the negative aspects appeared. On the whole national economy, it is found that the number of employees is reduced by the suspension of contracts or by the entry into technical unemployment of a significant number of people. Romania is still at the bottom of the ranking of European Union member states in terms of minimum wage income and even average, gross and net wage income. In the future, the trend is for these revenues to decrease and especially to appear impossible to increase them due to the lower activity of companies in the business environment and the poor collection that is being achieved at the moment.

Keywords: earnings; crises; national economy; fields of activity; unemployment; employees (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:cbu:jrnlec:y:2021:v:1:p:114-123

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