Click on the Image to view it full size. The nineties were characterized by a massive destruction of jobs and rising unemployment. The agricultural sector served as a buffer and was able to hide a large part from unemployment statistics. However, after Romania continued growth after 2000 the situation reversed and unemployment in Romania was among the lowest in all Eastern Europe. Companies competed for labor resources and in many cities unemployment for skilled labor was rather an exception. During 2008 the Romanian government even thought about how to attract Romanian emigrants coming back to solve the lack of labor. However, soon after the breakout of the crisis the situation reversed completely and Romania faces now a fast rising unemployment, frozen salary growth and little prospects to recover soon.

Back to The economy of Romania in 2010.

Category :

No comments yet.

Leave a comment