THE EVOLUTION OF WAGE LEVELS AND INCOME INEQUALITIES IN ROMANIA AND THE EUROPEAN UNION OVER THE LAST TEN YEARS (2014–2023)

Amalia Cristina NedelcuÈ› ()
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Amalia Cristina NedelcuÈ›: BabeÈ™-Bolyai University, Faculty of Economics and Business Administration

The USV Annals of Economics and Public Administration, 2024, vol. 24, issue 2(40), 44-51

Abstract: The increase in average and median wages is a clear indicator of economic progress, having a direct impact on reducing income inequalities. This study aims to analyze how economic growth has influenced the minimum, average, and median wages in Romania, highlighting the contribution of these changes to reducing income inequalities compared to other European Union member states. The official data used for the analysis were statistically processed in SPSS v28.0, applying linear regression with wage indicators as independent variables and the Gini coefficient as the dependent variable. According to the analysis, these wage increases have contributed to the reduction of the Gini coefficient as a result of a more equitable distribution of income among the population. This trend is supported by recent developments, including 2024 data, which confirm the continued growth of wage levels and the narrowing of the gap compared to the European Union average. The study's findings highlight that the increase in average and median wages reflects economic development and contributes to improving Romania's position in the European welfare rankings. As the economy has developed, the rise in median and average incomes has become an indispensable tool for reducing disparities and improving the quality of life. Thus, the analysis concludes that economic development continues to play a central role in enhancing living standards and reducing social inequalities.

Date: 2024
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