Unemployment Lessons from the Crisis and the Way Forward

Vrãbiuþã Monica () and Voºloban Raluca Ioana ()
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Vrãbiuþã Monica: Academy of Economic Studies, Bucharest, Romania
Voºloban Raluca Ioana: Academy of Economic Studies, Bucharest, Romania

Ovidius University Annals, Economic Sciences Series, 2012, vol. XII, issue 3, 55

Abstract: The year’s economy shows an increased unemployment rate, decreased housing values, descending stock markets, decreased interest rates, products’ prices impossible to control from the consumers’ perspective. In the last five years, they have felt the pressure of the crisis’ effects which affected their behavior, stability and standard of living. This paper tries to look at the employee as a consumer and to underline the severe unemployment situation since the crisis has started and its effects on the economy. The employee is the most loyal consumer of the company’s products and services, the consumer of its financial resources, its material resources, its benefits. Organizations rethink the way they engage with their employees because they are the key factors of the economy, regardless of its level of economic development. In the end, the paper also provides some useful guidelines regarding methods of managing unemployment situations, both from management and employees’ perspective.

Keywords: Consumer; Crisis; Economy; Employee; Unemployment (search for similar items in EconPapers)
JEL-codes: E24 J21 J6 N3 (search for similar items in EconPapers)
Date: 2012
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