The Correlation: minimum wage - unemployment in the conditions of transition to digital economy

Abstract

The research is done in the context of the upcoming introduction of new European legislation for the first time for regulation of minimum wage at European level. Its purpose is to identify the direction and strength of the correlation amongst changes of minimum wage and unemployment rate in the context of conflicting findings of the scientific literature. There will be used statistical instruments for the purposes of the analysis as it incorporates data for Bulgaria for the period 1991-2021. The significance of the research is related to the transition to digital economy and the necessity for complex transformation of the minimum wage functions in the context of the new socio-economic reality.