THE LABOUR MARKET CRISIS IN ROMANIA CAUSES, EFFECTS AND POTENTIAL SOLUTIONS

Ioan Cindrea
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Ioan Cindrea: Lucian Blaga University of Sibiu, Romania

Studies in Business and Economics, 2020, vol. 15, issue 1, 13-20

Abstract: We are going through troubled times, with worldwide pandemic crises affecting us altogether: citizens, companies and states. This article presents analyses and solutions to the workforce crisis of April 2019 and the workplace crisis of March 2020. Things have escalated from a workforce crisis to a new stage, namely an accelerated loss of workplaces and to a workplace crisis. In a matter of weeks, the labour market has moved from one extreme to the other extremely fast because of a very rough natural phenomenon which could not have been predicted, i.e. the global pandemic crisis caused by the COVID-19 coronavirus. It goes without saying that we all wish to achieve a relative balance on the labour market. This study puts forward concrete solutions adapted to the situation of the Romanian labour market at the end of 2019, when we saw a significant workforce crisis which severely affected companies’ business development objectives. At the same time, it introduces 11 solutions to the new job crisis, which is quickly expanding as a result of the global pandemic caused by the COVID-19 virus and by the declaration of a state of emergency in Romania. In a few weeks of crisis, Romania went from minus 1 million workers to plus 1 million workers. This is an extremely difficult situation. However, I believe that it is temporary and that after the pandemic crisis both the economy and the labour market will gradually recover.

Keywords: crisis; workforce; workplaces; labour market balance; alternative solutions (search for similar items in EconPapers)
Date: 2020
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