DIFFERENTIATION OF LABOR PRODUCTIVITY LEVEL AND WAGES AS A BASIS FOR CHANGES IN LABOR MARKET

Differentiation of the level of labor productivity has a direct impact not only on the level of wages, but also on the formation of labor market. The growth of labor productivity, mechanization, automation and digitalization of economy contribute to the release of part of labor resources. On the other hand, motivation of workers in various sectors of economy contributes to the outflow of people to more paid and prestigious industries. The study of trends in motivation of workers, the redistribution of labor resources between sectors of economy in connection with a significant differentiation of productivity and wages is of high importance. The purpose of this research is to study the trends and structure of the labor market in Russian Federation in conjunction with productivity and wages, as well as to identify factors affecting the growth of labor productivity The research methodology includes the analysis of secondary data of official statistics for the period from 1995 to 2017, institutional analysis, binary regression models, as well as the results of own research. It was established that labor market has changed. The number of employed labor resources increased in financial activity, public administration, wholesale and retail trade, hotels and restaurants, health care, education, construction and mining. At the same time, the number of people employed fell in research and development, real estate operations, manufacturing industries, agriculture, the provision of other services (municipal, social and personal), transport and communications.