Subject. This article analyzes the basic indices that most fully reflect the multidimensional well-being of the population and the standards the actual living conditions are compared with. Objectives. The article aims to assess the region population's well-being and develop priority measures to increase its level. Methods. For the study, we used a comparative analysis, and sociological studies and official statistics data. Results. The article describes the main reasons for the decline in the well-being of the population of the region and Russia as a whole. The article specifies the priority measures to improve the well-being of the population. Conclusions. Creating favorable economic and social conditions, developing international cooperation of companies, investment in human capital will help improve the quality of production factors and their efficiency.