IMPLICATIONS OF THE HEALTH CRISIS GENERATED BY THE COVID-19 PANDEMIC ON THE ROMANIAN LABOUR MARKET

Madalina Brutu () and Daniela Melania Mihai ()
Additional contact information
Madalina Brutu: Faculty of Economics and Law, University of Pitesti, Romania
Daniela Melania Mihai: Faculty of Economics and Law, University of Pitesti, Romania

Scientific Bulletin - Economic Sciences, 2020, vol. 19, issue 3, 33-40

Abstract: The International Labour Organization warns that the Pandemic will have devastating effects on the labour market, worldwide. It specified that an impressive number of employees have already been affected by the social distancing measures and that this crisis will be the worst for the labour market since World War II. The impact of the pandemic has been and is still strongly felt on the Romanian labour market as well. Most companies in the economy sent their employees in technical unemployment in the spring of 2020, and most employments are cancelled, postponed or frozen. The European Commission forecast that the Romanian economy will contract by 5.2% in 2020 and the deficit will grow by 10.3% of GDP. The hope for November 2020 comes from the pharmaceutical companies Pfizer and BioNTech who announced an efficacy of 90% of the Covid-19 vaccine and from which the European Commission has already contracted 300 million doses of vaccine, at a lower price than that the USA will pay.

Keywords: Labour market; Employees; COVID-19 Pandemic. (search for similar items in EconPapers)
JEL-codes: M12 (search for similar items in EconPapers)
Date: 2020
References: Add references at CitEc
Citations:

Downloads: (external link)
http://economic.upit.ro/RePEc/pdf/2020_3_4.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pts:journl:y:2020:i:3:p:33-40

Access Statistics for this article

Scientific Bulletin - Economic Sciences is currently edited by Alina Hagiu

More articles in Scientific Bulletin - Economic Sciences from University of Pitesti Contact information at EDIRC.
Bibliographic data for series maintained by Alina Hagiu ().