THE EVOLUTION OF THE ROMANIAN LABOUR MARKET BETWEEN 2000-2016. A STATISTICAL REVIEW

Annamaria Bart ()
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Annamaria Bart: University of Oradea Faculty of Economic Sciences

Annals of Faculty of Economics, 2017, vol. 1, issue 2, 32-42

Abstract: In this work I present and summarize the negative effects and manifestations of contemporary economic and financial crisis both on the national economy and on society. The reason why I chose this topic is to take a close look at the economic crisis (started in 2008 in the US) – and its financial effect on contemporary economy.This article presents recent statistics in Romania with regard to employment, including an analysis based on the dimensions of socio – economics: statistics evaluating employment show significant differences by gender, age and area. The purpose of this paper is to study and analyse the evolution of the Romanian labour market between 2000 and the first quarter of 2016 from statistical points of view based on the results of a comparison of the period before the crisis and after it. This paper emphasizes the correlation between real GDP growth and unemployment rate, as described by Okun’s law. The theoretical background of my scientific research methodology used to accomplish this work is based on macroeconomic principles and theories, such as recent statistical data taken from the official website of the National Institute of Statistics, the Romanian National Bank, Ministry of Labour and Eurostat. The economic crisis of 2008 has reinforced some existing imbalances on the Romanian labour market, requiring additional efforts to find solution for this problem. In the last 15 years the Romanian labour market has undergone profound changes. We can distinguish two stages regarding developments on the labour market in Romania after 2000. The first stage comprises the period 2000 – 2007, and is defined as a period of profound restructuring of the Romanian economy. The second period, from 2007 up to the present. is one that is characterized as a period of relatively high unemployment rate and efforts were directed primarily at limiting unemployment and its harmful effects on society. After 2005, employment development is moving towards a new crisis on the labour market, but its cause is not unemployment, but rather a decrease in demand on the labor market.

Keywords: Romanian labor market; crisis; unemployment rate; evolution; statistical analysis, Okun’s law (search for similar items in EconPapers)
JEL-codes: C10 E24 E29 (search for similar items in EconPapers)
Date: 2017
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