ANALYSIS OF THE CORRELATION BETWEEN THE EMPLOYED POPULATION, UNEMPLOYMENT AND VACANCIES

Anghelache Constantin and Anghel Madalina-Gabriela
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Anghelache Constantin: BUCHAREST UNIVERSITY OF ECONOMIC STUDIES AND ARTIFEX UNIVERSITY OF BUCHAREST
Anghel Madalina-Gabriela: ARTIFEX UNIVERSITY OF BUCHAREST

Annals - Economy Series, 2018, vol. 3, 19-25

Abstract: The economic growth is based on the most efficient use of the resources available to the society. Taking into account the concept of production factors (the Cobb-Douglas production function), an essential element is labor resources. Starting from this point it is important to analyze the correlation between the employed population, the unemployment rate and the existence of vacancies. The employed population expresses the degree of involvement of persons with the capacity to work in economic and social activities at the level of a state. Unemployment shows the number or, if expressed under the unemployment rate, the percentage of the employed population who lost his job. Contrary to the number of unemployed, there are also vacancies. As a paradox, although the unemployment rate is high enough, vacancies offered do not work. It is precisely these aspects that are paid attention to by the authors, who carry out extensive analysis in the field of labor resources. In the study, the authors use a series of quantitative models and methods to highlight the correlation between the three indicators. There will be graphical representations, correlation indexes will be calculated, based on the statistical data series published by the National Statistics Institute.

Keywords: unemployment rate; economic growth; occupied population; correlation; data series (search for similar items in EconPapers)
Date: 2018
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