This article examines dynamic morphological processes – the transformation of the parts of speech (namely, attributive verbal forms and verbal nouns), as well as the syncretic cases of zero derivation on the example of young people’s speech. The author has employed the traditional complex method of analyzing the language material, which in turn has used the system of instrumental operations (synonymous rephrasing, downsizing, and opposition method; the latter allows examining the system connections of a word and their influence on the semantics of a word form), oriented towards developing the categorial value; the logico-syntactic and syntagmatic methods aided in determining the grammatical signs of language units. Using as an example the youth jargon, represented in the Dictionary of Colloquial Speech of the City of Arkhangelsk, this article shows the mechanism for transpositioning different word groups into interjections, where several lexem subgroups of the syncretic type function; in addition, the author identifies the basic directions for the different parts of speech transitioning turning into the evaluative vocabulary.