THE USE OF MARKOV CHAINS IN FORECASTING EMPLOYED POPULATION PERCENTAGE

Mihaela Savu () and Delia Teselios ()
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Mihaela Savu: “Constantin Brancoveanu” University, Piteşti
Delia Teselios: “Constantin Brancoveanu” University, Piteşti

Romanian Economic Business Review, 2016, vol. 11, issue 2, 232-241

Abstract: Within the Europe Strategy 2020 has been established that one of the target indicators to be represented by employment rate. The target proposed by Romania seems difficult to achieve, but in the present paper we forecast the share of employed population in the Romanian economy, in order to seize the activities in economy with growth potential, since in the last four years the number of employed people experienced a fluctuating trend. Markov chains allow predicting the employment share on the main economic activities. Calculations made for 2015 show increases in the share of employment in industry,trade and health.

Keywords: Markov chains theory; labor market; employed population; employment rate (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:rau:journl:v:11:y:2016:i:2:p:232-241

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