Analysis of Tendencies in Income Level of the Population in the Astrakhan Region

Abstract

The article dwells upon the continued decrease of income level of the Russian population as a result of the financial crisis and rising inflation, which is followed by yearly contraction of needs and savings. The analysis of the income structure of the Russian people confirmed the growth of the share of wages while reducing income from the use of property, business income, and social benefits. The tendencies to changing the income level in the different industries and regions of the Russian Federation have been identified. The average income level of the population of the Astrakhan region has been defined, the finance dynamics for the period from 2016 to 2018 has been evaluated. The tendencies to changing individual components of the population income in the Astrakhan region have been investigated: wages, business income, employment of property, social benefits. There has been estimated the average monthly wage in the region (in nominal and real terms) and the rate of its changes over the studied period. The estimation of the size of social payments to the population of the Astrakhan region has been made. The main part in the total volume of social payments to the population comes to pensions (74.8%). The criteria of the subsistence minimum both in the country and in the region have been given. It has been inferred that the living cost in the country is greatly underestimated, actually, in half, compared to the real living cost, which is related to saving the budget. In the Astrakhan region a great proportion of the population has incomes below the minimum subsistence level: 16.0% of the region’s population is below the poverty line. To reduce the level of poverty, to increase incomes of the population and to reduce the share of citizens with incomes below the subsistence minimum there have been proposed a number of that will help to reach a higher standard of living in accordance with the requirements of the social market economy.