Romania’s ILO unemployment slightly down to 7.2% in February

By bne IntelliNews April 2, 2014

Romania's seasonally-adjusted ILO unemployment rate edged down to 7.2% in February from 7.3% in January, the statistics office announced. The rate reached a maximum for the past couple of years in October-November when it was 7.4%. On the year, the seasonally-adjusted rate remained constant. The data is for the widest age brackets, 15-74 years.

For the narrow age brackets of 24-74 years, the ILO unemployment also dropped slightly to 5.7% in February from 5.8% in January and 5.9% in October-November. But it also edged down slightly from 5.8% in February 2013. In principle, this means that the unemployment for the 15-24 years has increased on the year – but the magnitude of the shift must have been rather slow – as indicated by the marginal decrease in the rate for the 24-74 age.

While the unemployment metrics remain in Romania quite encouraging by EU standards, the employment readings are rather disappointing. Not only that the employment lags well behind the pre-crisis [2008] levels, despite the economic recovery that brought industrial output close to pre-crisis levels and the exports well above pre-crisis peak levels, but it is low in absolute value – compared to the country’s population. Out of the nearly 4.4mn total employment, more than 1mn are working in the public sector – at a population of some 19mn.

Related Articles

Former Romanian PM Ciolos to found political party

Romania’s former prime minister Dacian Ciolos, who headed a cabinet of technocrats in 2015-2016, has announced plans to found a political party based on his Romania 100 civic platform. Ciolos plans ... more

EC to sue Bulgaria, Romania for failing to adopt copyright legislation

The European Commission said that will refer Bulgaria and Romania, along with Luxembourg and Spain, to the Court of Justice of the EU as they have failed to notify ... more

Kingfisher takes on Romanian DIY market leader Dedeman with Praktiker acquisition

Brico Depot Romania, owned by UK-based DIY and home improvement products retailer Kingfisher, has completed the acquisition of its peer Praktiker Romania, local media reported on December 4. The ... more