THE 11 MOST IMPORTANT SOCIOECONOMIC INDICATORS - ECONOMY - 2024

The socio - economic indicators are statistical measures related to social and economic dimension of human society. It is an element of analysis widely used by the social sciences in the analysis of society and the development of public policies.

Socio-economic indicators are linked to specific social and economic phenomena that can be acted upon. These types of measures are born from a theoretical framework, largely carried out by professionals from the social sciences, statistics or public policies.

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Another characteristic of indicators is that they must be durable over time. This is the only way to observe, in a comparative way, the evolution of a specific phenomenon over time. Many of the socioeconomic indicators are international in nature and allow the comparison of the same social fact between different societies.

As a general rule, the construction of a socioeconomic indicator does not require complex mathematical or statistical calculations. In this sense, these are measurements, mostly numerical, that are clear and precise.

List of the main socioeconomic indicators

The combined use of social indicators and economic indicators is essential for a correct interpretation of social reality. A society can grow economically and not register with this growth any social improvement. That is why the development of a society must be analyzed in economic and social terms.

Because of this, most countries work with systems of economic and social indicators that cover almost all areas of society. The main socioeconomic indicators used are explained below.

Indicators of the social structure

The most common subject areas of the social dimension are eight. Among them, we find: population, education, households, health, housing, work, social cohesion and poverty.

Population

Population indicators provide information on the subject of public policies. The volume, composition and rate of population growth are variables that determine, in a definitive way, the functioning of a society.

Education

The study of education is important for two main reasons. On the one hand, education is a basic right of the population and, therefore, it must be ensured that the majority or all of the citizens access minimum levels of training.

On the other hand, education is closely linked with other fundamental areas of the social sphere. The educational level of people has an impact on areas such as health, the job market, social participation, etc.

Households

The analysis of the household structure allows us to infer the degree of social protection that individuals have. When the State cannot provide coverage in terms of work, health and social security, the only institution available to people is the family.

Health

Having updated information on the health situation of citizens is the only way to optimize health resources. On the other hand, a high prevalence of a certain disease among citizens forces governments to investigate it.

living place

The housing indicators collect information on the physical characteristics of households and the basic services available to their occupants. These types of indicators are fundamental, since they have a strong value to radiograph the population, both in economic and social terms.

Job

This type of indicator collects the activities aimed at the production of goods and services, in exchange for remuneration. This indicator works as a connection between the social dimension and the economic dimension.

In an optimal scenario, a growth in the income received by the workers should take place without them renouncing their rights.

In this sense, the laws of most countries establish that workers have certain rights. For example, the right to vacations, a minimum wage, being insured in terms of occupational risk, etc.

Social cohesion

The social reality is constantly changing. That is why the analysis of emerging problems is essential to have a complete image of society.

Social cohesion then deals with problems such as social exclusion, violence between families, the conditions of the disabled, etc.

Poverty

Poverty indicators analyze quantifiable aspects of well-being. In other words, they focus on concepts related to the standard of living or the lack of resources.

Poverty is measured from two different perspectives. One perspective focuses on the analysis of the lack of possibilities to fully develop life. This fact, in terms of poverty, is measured by lack of income.

The other perspective focuses on unmet basic needs. This model is more complex, since it requires defining a list of basic needs that must be satisfied in society.

Certain conditions in the home, school attendance and sufficient economic resources to survive are the most common.

Indicators of the economic structure

The analysis of economic structure indicators is used not only to evaluate the situation of a certain society, but also to evaluate the result of government programs. Among the indicators of economic structure, we can find different types.

Economic indicators

The short-term (or context) indicators focus on the analysis of the main economic sectors and reflect their short-term evolution.

These types of indicators do not capture all the reality that affects a sector, but they are an important part when predicting sectoral changes.

Expectation indicators

Expectation (or economic sentiment) indicators are concerned with confidence. Confidence surveys are carried out annually, both among entrepreneurs and consumers. This type of information allows anticipating changes in the functioning of the economic activity of a country.

Productivity and quality indicators

The productivity and quality indicators focus their attention on evaluating the performance of economic sectors. Its analysis is carried out by large sectors or subsectors, or by smaller units, such as the company.

This type of indicator is of vital importance for development. Only an increase in sectoral effectiveness can provide the necessary resources to guarantee, simultaneously, an increase in the well-being of workers and in production.

References

1. Gentile, N., & López, MT System of economic and social indicators: the importance of integrated analysis. Argentina: Center for research, follow-up and monitoring of development. Consulted on June 27, 2018, from eco.mdp.edu.ar.
2. Londoño Mora, PA, Kurlat, ME and Jorge Agüero, M. Set of sociodemographic indicators for a support system in decision making. Consulted on June 29, 2018, from Palermo.edu.
3. Socio-economic indicators. Consulted on June 29, 2018, from si-educa.net.
4. Social indicator. On Wikipedia. Accessed June 30, 2018, from wikipedia.org.
5. Social Structure. On Wikipedia. Consulted on June 30, 2018, from en.wikipedia.org.