Abstract:

As the concept of Industry 4.0 came to the forefront during the last eight years, which main idea is the technology will impact directly our work and private lives, as well as directly influencing people’s way of living and thinking. Since the main idea of the concept is to ease people’s everyday life by replacing many tasks by technology, we decided to conduct our research to find out whether there has been a change on quality of people’s lives – welfare. When considering welfare of a group of healthy individuals, the two factors which play major role in our opinion were wages and leisure time. For this reason, this article has two research objectives.  The first aim of the research was to analyze the progress of welfare of countries during the period of 2000-2018, which are listed in the OECD database. The second aim of the research was to identify, whether the level of wages directly influences hours worked per worker in the given country. For the research was used Pearson’s Correlation Coefficient, R-squared, using linear regression equation. In the conclusion are summarized the key findings, which will help in forecasting the future values of variables examined