The labor market in Romania is estimated to settle in three, four years, economist says

Publish date: 22-02-2008
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The turmoiled macroeconomic climate in Romania as well as the increase of inflation and prices and the oscillating exchange rate of the leu will have a negative effect on the employees, however the labor force market will settle by itself in the next three, four years, economist Florin Citu said.

The labor force will be more and more mobile, Citu deems. The heavy personnel fluctuation the Romanian employers have to deal with and the labor force migration abroad are consequences of an economy with "poor health," Citu explained.

The salary increase seen last year will continue this year too, however it is an artificial one based on the oscillating exchange rate, the increase of inflation and the widening of the current account deficit, Citu said.

The deficit of skilled workforce will remain a problem this year too, the  sectors most in need being constructions, textiles, hotels and restaurants and financial-banking.

Although the economic growth in the past years created jobs, the rate of people employed after 2002 is negative. The number of people who left the labor market was higher than the number of those who entered it.

Citu said the phenomenon will last for three, four years after which the labor market will settle. The increase of salaries will draw attention of the unemployed, people from the rural areas or from other countries while the Romanian who left to work abroad will be tempted to return, Citu deems.

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