Impact of globalisation on regional labour markets and living standards: A socio-economic analysis

Intensive globalisation leads to a series of consequential changes in socio-economic development processes. Issues such as negative demographic trends, uncontrolled migration, a shortage of qualified personnel, and the need to improve the quality of life have become particularly significant. This study aims to provide an extensive analysis of the socio-economic consequences of globalisation in the context of labour market dynamics and the population’s standard of living. The article examines the essence of the phenomenon of globalisation in modern conditions. The main interpretations of the definition of globalisation and its advantages and disadvantages in the context of its impact on socio-economic dynamics in different regions are presented. The consequences of globalisation are substantiated in aspects such as increased labour migration, the decline in the living standards of specific population categories, and the transformation of the labour market. The specifics of such consequences for countries with high and low levels of socio-economic development are highlighted. Statistical data on unemployment, labour migration, and quality of life indicators over recent years are provided. The main directions of a concept to mitigate the negative consequences of globalisation for the labour market and societal well-being are identified. It is established that the level of socio-economic development of an individual country largely depends on the state of the global economy and the crises within it. Optimising labour potential should be a priority in the context of active European integration and Ukraines economic and political instability. The unresolved issues concerning the relationship between globalisation and the status of wage earners in national and international labour markets and the effectiveness of state regulation under the increasing influence of globalisation are identified. It is proven that the intensification of the role of globalisation in societal development requires a comprehensive study of the specifics of the functioning of the system of international socio-economic relations in interaction with national development strategies.