THE EFFECT OF UNEMPLOYMENT ON ECONOMIC GROWTH

Madalina-Gabriela Anghel, Constantin Anghelache and Alexandru Manole
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Madalina-Gabriela Anghel: „Artifex" University of Bucharest
Constantin Anghelache: Bucharest University of Economic Studies/„Artifex" University of Bucharest
Alexandru Manole: „Artifex” University of Bucharest

Romanian Statistical Review Supplement, 2017, vol. 65, issue 7, 174-186

Abstract: Unemployment is a macroeconomic indicator that reflects the inability of an economy to make full use of labor resources. The phenomenon itself is based on the concentration of socio-economic activity, the improvement of high productivity means of production, the higher supply of people able to occupy the available places in the economy than the real number of them or the non-synchronization of the labor supply and the available places at the regional level Or national. Of course, the lack of adequate conversion of the labor force leads to an increase in the number of unemployed and thus the unemployment rate. The number of unemployed, somewhat rising in Romania, has two negative effects through the economic effort of paying unemployment benefit, on the one hand, and the existence of a percentage of the labor resource that can not be used to increase the production of goods and services, on the other part. The analysis of the unemployment figures set in the BIM or AMIGO system reveals the availability of the labor market and the inability to assimilate the national economy. The inflation rate has a direct correlation with the evolution of the Gross Domestic Product, which we analyzed using some appropriate econometric models.

Keywords: unemployment; economic growth; inflation rate; productivity; labor market (search for similar items in EconPapers)
JEL-codes: E23 J64 (search for similar items in EconPapers)
Date: 2017
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