THE GROWTH OF LABOUR PRODUCTIVITY AS THE BASIS OF INNOVATIVE MODERNIZATION OF THE NATIONAL ECONOMY

Abstract

Modern trends of labor market in Russia as well as unstable external economic environment contribute to the search for domestic sources of development. This source is traditionally the stimulation of productivity growth. The traditional approach to measuring its level involves the use of indicators of development and complexity. The analysis of this approach to the assessment of productivity level has allowed us to identify deficiencies in its application and draw a conclusion about the need for research in the field of monitoring the labor productivity level. Nowadays the growth rate of labor productivity in Russia lags behind the dynamics of this indicator in foreign countries. That led to the fact that productivity growth was stated as one of the priorities of socio-economic development. Here we give the analysis of the targets established by the Edict of the President of the Russian Federation "On long-term state economic policy" and marked in the Strategy of long-term socio-economic development of Russia until 2020. The results of the study allow us to conclude that these targets will not be achieved. Accordingly, this poses the question of their adjustment. This requires a deep analysis of labour productivity level taking into account regional and industry specifics. Development of activities to improve the productivity level is particularly relevant in connection with the workforce downsizing. In this paper, the analysis of the demographic situation and trends of its development allows us to conclude that the growth of social demand on the working population becomes more prevalent and will only increase in the future.