Correlation of Wages and Labor Productivity in Russia and Abroad

Current article represents research in the field of labor productivity and wages, as well as their correlation. The authors highlight the main tasks and set the goal of analyzing the correlation between wages and labor productivity in the Russian Federation in comparison with the EU countries and the United States. The study revealed an excessively overestimated level of correlation between labor productivity and wages in Russia and in a number of foreign countries, with the exception of the G7 countries. The novelty of the article is the demonstration of the real situation and the high level of correlation between labor productivity and wages in Russia.