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Production and Monetary Efficiency of Labour in the Sectors of Russian Economy

Author: Valery Ye. Kireev


The article analyzes the dynamics of labour productivity, profitability and intensity in the sectors of Russian economy. The study covers the period from 2002 to 2013. The reaction of the indicators to the macroeconomic shocks of 2008–2009 is considered allowing for the specifics of the Russian labour market. Particular attention is paid to the examination of labour productivity and profitability in the mineral extraction sector, because of the particular structure of the national economy. The paper identifies trends in labour intensity in agriculture, brought about by high labour costs in the argricultural sector in contrast to other types of economic activities. In addition, the author classifies the sectors according to the domination of production or monetary efficiency of labour with growing or declining labour costs. Finally, the paper presents the conclusions about the reaction of the indicators of labour productivity, profitability and intensity to the macroeconomic shocks. On the basis of the developed approach to the assessment of indicators of labour efficiency the author pinpointed construction as the most productive sector.

Keywords: labour productivity; labour profitability; labour intensity; labour efficiency; macroeconomic shocks.

For citation:

Kireev V. Ye. Proizvodstvennaya i denezhnaya effektivnost' truda v otraslyakh rossiyskoy ekonomiki [Production and Monetary Efficiency of Labour in the Sectors of Russian Economy]. Izvestiya Uralskogo gosudarstvennogo ekonomicheskogo universiteta – Journal of the Ural State University of Economics, 2016, no. 1 (63), pp. 116–125.