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Labor Market

23
January

Employment and the unemployment rate in Romania is hard to understand if not related to the general employment structure and other labor market indicators such as the occupation and activity rate or the role of (short term) migration. Even during the hard recession of the nineties and their aftermath official unemployment rates in Romania were relatively low when compared to other Eastern European countries.
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Category : 2009 | 2010 | economy | Economy of Romania | Employment | Labor Market | News | Unemployment Rates | Blog
23
January

Average salaries in Romania belong to the lowest of Europe and even the double digit growth rates experienced during the last years of economic boom did not raise them to an European average level. And: several years of double digit would be needed to achieve a convergence with Western European average salaries. A simple example might illustrate this notion: If we take average industrial labor costs from 2002 for Germany (32 EUR) for Germany and for Romania (1.5 EUR) and make the realistic assumption that labor costs will grow each year by 3% for Germany and the unrealistic assumption that they will grow by 20% for Romania each year a catch up for Romania would have been achieved in 2022. But let’s switch to reality and have a look on real wages in Romania, the average gross salary and average income.
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Category : 2010 | Economic Forecast | Economic Outlook | Employment | Growth | Labor Market | News | Blog