。
Many people are better off than they used to be.
Literal
Standard-of-living [subject-が] before [than-より] is-becoming-better people [subject-が] many.
A nested structure: 暮らし向きが以前よりよくなっている is a full relative clause modifying 人 ('people whose standard of living is improving compared to before'). ~くなっている ('is becoming X') is the ongoing-change reading of ~くなる + ~ている. A common demographic/statement-of-trends pattern.