Comparative Analysis between Quality of Life and Human Labor in Countries Belonging to G7 and BRICS Blocks: Proposition of Discriminant Analysis Model

Abstract

The aim of the present research is to identify and analyze the variables which help to effectively differentiate Quality of Life (QoL) and human labor in the G7 (Germany, France, Italy, Canada, Japan, United Kingdom, and United States of America—USA) and BRICS countries (Brazil, Russia, India, China, and South Africa) through a discriminant analysis. A discriminant analysis model is developed to classify countries as having a low, mid, or high QoL based on QoL and human labor variables. The variables used in the discriminant analysis were obtained between 2010 and 2022 from two platforms: NUMBEO variables capable of relating QoL to socioeconomic aspects and OECD’s (Organization for Economic Cooperation and Development) human-labor-related variables. Based on the results, the three variables that most discriminate the groups in order of importance are employed women in relation to the female population, the female labor force participation rate, and the female unemployment rate. Countries are classified as having a low, mid, or high QoL. The adopted technique will allow researchers and managers to classify and draw goals for action reorganization and investment in QoL and labor.

Assessing Economic Development and Quality of Life: A Management Perspective on Romania and the Republic of Moldova

“…Quality of life is a relatively new concept in the social sciences, which refers to the satisfaction felt by individuals in relation to both the microclimate (like income, expenses, employment status, access to resources, market conditions in an industry or sector, regulatory environment, and other personal or localized economic circumstances) and the social macroclimate in which they live (economic infrastructure, cultural diversity and inclusion, and social norms and values) [5][6][7][8]. Both microclimate and macroclimate factors significantly impact individuals' overall quality of life, as microclimate emphasizes immediate, localized influences, while macroclimate pertains to broader societal-level influences.…”