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.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Romania appoints new economy, defence ministers

Romania's economy minister Mihai Fifor has been moved to head the defence ministry, after former minister Adrian Tutuianu resigned last week. Fifor was replaced by Gheorghe Simon, who took over the ... more

IIB to issue bonds to support activities in Romania

The Moscow-based International Investment Bank (IIB) will issue bonds to expand its existing loan portfolio and finance activities in Romania, the bank announced on September 4. The IIB has ... more

Romania’s Nuclearelectrica to resume talks on new nuclear reactors with Chinese investors

Nuclearelectrica, the operator of Romania's sole nuclear power plant, is reportedly poised to resume negotiations with China General Nuclear Power (CGN) on the construction of two new reactors.  ... more

Most Read

  1. ISTANBUL BLOG: Commerzbank ignites quarrel claiming Turkey’s official growth figures are “more than questionable”
    7 days ago
  2. Volkswagen doubles exports of Russia-made cars
    5 days ago
  3. KYIV BLOG: Ukraine headed for a constitutional crisis
    7 days ago
  4. Turkey’s decision to buy Russian missile-defence system alarms Washington
    7 days ago
  5. Eastern Europe on alert as Russia targets “West” in largest war games for years
    6 days ago
  1. Hungary threatens to block Romania’s OECD accession
    13 days ago
  2. ISTANBUL BLOG: Commerzbank ignites quarrel claiming Turkey’s official growth figures are “more than questionable”
    7 days ago
  3. Economists tangle over risk of a Greek-style collapse in Turkey
    18 days ago
  4. Wild capitalism threatens the untamed rivers of Southeast Europe
    1 month ago
  5. Russia’s government moves from war budget to election budget
    26 days ago

Selected articles from our premium news/views wire IntelliNews Pro

Login to IntelliNews Pro
Get IntelliNews Pro

Reports

Dismiss