THE EXPEDIENCY OF USING THE KEITZ INDEX: PROS AND CONS

The object of this study is the set of issues related to reducing the gap between the minimum and median wages. The purpose of the article is to evaluate the expediency of using the Kaitz index. The scientific novelty of this research lies in the attempt to justify the need for a differentiated minimum wage based on industry and qualification criteria. The research methods include quantitative analysis of indicators related to the disparity between median and minimum wages. A comparative method is also employed to identify common characteristics of a monopsony labor market. To support this analysis, the author examined collective agreements from 50 companies operating in Russia. The findings of the article suggest that the rapid growth of freelance employment will displace the flat scale of measuring the minimum wage.