Romanias ILO-defined unemployment rises to 7.3% in 2010.

By bne IntelliNews June 15, 2011
Romania's unemployment rate, reported under the ILO standards, increased to 7.3% in 2010 from 6.9% in 2009 and 5.8% in 2008, the statistics office reported. The countrys active population was 9.97mn with the number of unemployed being about 725,000 according to the ILO definition. The economic activity rate for the age group 15-64 improved slightly to 63.6% from 63.1% one year earlier. The participation rate, or the share of economically active population actually engaged in productive activities, also improved to 58.8% from 58.6% yet remaining below the 59% level in 2008. The rise was driven by the higher participation rate in the age group of 25-54 years at 74.4% in 2010, up from 73.7% one year earlier. The participation rates in lower and upper age groups on the opposite decreased due to the adverse market circumstances, creating difficulties at entry level and for re-employment.
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