The effect of labor productivity on economic growth

Abstract

The purpose of the study is to study the level of labor productivity as the most important conditions for sustainable economic growth and improving the competitiveness of the national economy Materials and methods. The study used the methods of analysis of composition and structure, the calculation of absolute and relative indicators of dynamics, average values, comparative analysis, graphical method of analysis, as well as the general theoretical method of analysis of Russian and foreign literary sources. The main research methods are cluster, stochastic and dynamic analysis. The study found application methods for collecting primary economic information, including analysis of legislative and regulatory acts of the Russian Federation, official statistical data, public reporting data of domestic enterprises, analysis of other open sources of information, a systematic approach, statistical and comparative analysis methods. The study examined the works of N.A. Alekseeva, G.A. Barysheva, V.Ivanter, A.Idrisova, S.V. Kaymanakova, N.I. Komkova, E.V. Kondratieva, I.T. Korodina, Kositsina, F.P., Kuvalin D., Kulkova V.M., Mamontova V.D., Nekipolova A., Nikulina OV, Oder D.E., Sapir J., Yuhacheva S.P. , Yantovsky A.A. and others. Results. Adhering to the opinion of well-known economists, we will consider economic growth as a system of interaction and reproduction of the elements and factors of economic growth of the national economy. Economic growth is determined by the factors that determine the pace and scale of the long-term increase in gross domestic product, the possibility of increasing the efficiency and quality of growth. The study made it possible to determine that the main factors affecting economic growth are labor productivity, the size of the average wage, and the amount of investment. In turn, labor productivity is also associated with the cost of technological innovation and the index of ingenuity. One of the qualitative characteristics of economic growth is labor productivity, which contributes not only to an increase in production, but also to an increase in the income level of the population due to an increase in the total consumption of goods and services. Conclusion. The implementation of the principle of faster growth of labor productivity over wage growth should take into account the need to ensure equity in income differentiation, which will stimulate the development of the creative potential of labor resources. To increase labor productivity in enterprises, it is necessary to introduce modern methods of process management, the principles of the organization of lean manufacturing. A systematic approach to solving these problems will make it possible in the coming years to improve the competitiveness of enterprises, and in the long term, it will contribute to a systematic increase in labor productivity and ensure decent economic growth.