b) Grozny State Oil Technical University named after M.D. Millionschikova, 100, Isaev av., Grozny, 364061, Russia raisaazieva@list.ru (c) Grozny State Oil Technical University named after M.D. Millionschikova, 100, Isaev av., Abstract Wages are the most important livelihood for the Russian citizens. In 2018 Russian wages amounted to 59.3 % of all cash income. Wages are formed on the basis of labor costs taking into account the supply and demand mechanisms. Over a long period of time, the

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... es of developed countries have witnessed a real wage growth, thereby confirming the high efficiency of the modern post-industrial economy. In Russia, during market transformations in 1992, 1995 and 1999, there was a significant decrease in the level of real wages, especially in the budget sector of the economy. But after 1999, real wages began to rise again, reaching a total of 80 % of the 1991 level by the mid-2000s. From 2000 to 2018, the average monthly accrued wages increased 20 times, and its purchasing power increased more than 2 times. The most important condition for wage growth is an increase in labor productivity. This indicator is one of the lowest in Russia. Today, the growth of labor productivity is one of the most important tasks requiring large-scale works to increase labor productivity in the Russian economy.