One of the tasks set by the President of Russia for the coming years is to improve the standard of living of Russian citizens and ensure economic growth. To create prerequisites for sustainable, progressive socio-economic development of territories, conditions are necessary, the most important of which is the preservation and enhancement of human resources, or human capital. People and their well–being are the main values of any country. This work is devoted to the study of the main economic determinants of the formation of the standard of living of the population. The main aspects of the sectoral structure of the economy as the basis for the formation of a vector of socio-economic development are considered; an assessment of the standard of living of the population of the Far Eastern regions is carried out. In many parameters of socio-economic development, the Far East lags far behind the average Russian level. Thus, in many regions, social labor productivity is significantly lower than in other regions and on average in the country; socially significant industries are noticeably "disadvantaged" in the structure of investments in fixed assets. This affects the achieved standard of living, in particular, the provision of housing and its well-being, per capita income, consumer spending of the population and their structure, as well as the economic accessibility of food. Comprehensive measures are needed to increase labor productivity, technical and technological equipment, and in general, in the field of advanced socio-economic development of the Far Eastern regions, the preservation and increase of the population and the achievement of high standards of living. The Far East needs comprehensive state support in improving people's living conditions.