Wage: micro- and macroeconomic approaches of research of the mechanism of formation and increase

This article is devoted to the study of the micro- and macroeconomic functions of the formation and increase of wages in the labor market. It is proved that wages, in addition to such basic functions as: reproductive, stimulating, regulating, social, formation, increase and balance of the solvency capacity of the national market, must also perform structural and protective functions. The main approaches and factors of influence on the level of wages are identified and a mechanism for its regulation is proposed, which will help determine the main directions of stabilizing the situation with wages in the country. In modern conditions, wages do not fully perform any function. Thus, to increase the stimulating function in Ukraine, it is necessary to use such factors of influence as: investment and innovation activity, development of entrepreneurship, self-employment. This will contribute to the growth of economic productivity, revision of living standards of the country's population in accordance with European social standards. The low level of wages is the main reason for the growth of hidden unemployment and a significant drop in the solvency demand of the population. The low level of wages is one of the main reasons for the prolonged stay of the Ukrainian economy in a state of crisis. Wages are not only an indicator that determines the general standard of living of workers. The development of the economy in general depends on its condition and forms of implementation. The components of the mechanism for the formation and increase of wages using micro- and macroeconomic approaches have been studied. At the current stage of the development of the Ukrainian economy, the problem of remuneration for labor by implementing an effective mechanism for its regulation is relevant, since the economic processes taking place in the country do not contribute to the motivation of personnel through wages. Due to inflationary processes and the constant depreciation of the domestic currency, wages cease to fulfill their main function - reproduction. Economic growth in the country is impossible without increasing labor productivity, which cannot be achieved without strengthening the stimulating role of wages. Micro- and macroeconomic approaches have been applied to the formation and increase of wages, which makes it possible to regulate the level of wages and achieve the level of European countries. The proposed microeconomic approach in the form of monopsony allows you to regulate the level of wages by regulating supply and demand in the labor market. The proposed macroeconomic approach allows you to reduce the unemployment rate by improving the quality of life.