The article is dedicated to the analysis and evaluation of labor productivity in the industry sector of the Russian Federation. Based on the analysis of labor productivity it can be concluded that in the period under review productivity decreased in virtually all industrial sectors. The study concluded that the renewal of fixed assets has a direct effect on productivity, with the industries best performing in this factor having the largest share in the country's GDP. Technical and technological equipment is one of the key factors determining productivity, but for sustainable growth it is necessary to combine efforts on a range of factors. It was revealed that dynamic capabilities should be considered one of the factors increasing the productivity of labor, while the accumulation of these capabilities is more characteristic for innovation and technology clusters, due to the combined competencies of the participating enterprises, research and educational organizations. The article has pointed out that for innovation and technology clusters, it is important to not merely accumulate competencies, but also to transform them into an effective mechanism for knowledge transfer. We assessed productivity in clusters through economic and statistical analysis, and concluded that labor productivity in clusters has a positive dynamics. It was found that the factors increasing labor productivity include not only the technological equipment industry, the expansion of production and technical means, but also the qualification of the labor process, which is reflected in the accumulation of dynamic capabilities. Based on this approach, we can conclude that the challenge for companies is to determine the competencies and develop ways to transfer and further develop in view of the changes in the external environment.