Economic crisis claims 50,000 layoffs in Romania's private sector in October and November

Publish date: 24-11-2008
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Romania's privately-owned companies in 30 counties sacked around 50,000 employees since the beginning of October amid the economic turmoil that blocked investments and cut demand for exports, according to Ovidiu Nicolescu, head of the council for SMEs.

The unemployment rate practically doubled in the past two months to 150,000 persons in the private sector.

The eastern counties of Botosani and Suceava were the most badly hit, with a jobless rate of almost 4 percent. The largest problems were encountered in the steel and car industries.

Around three quarters of Romania's employees, or 3.7 million persons, are currently working in the private sector.

The country's Labor Minister, Mariana Campeanu, announced on November 21 that the number of unemployed persons could reach 34,000 in May 2009, a two-fold increase on the level estimated at the beginning of November for the end of winter, of almost 17,000 persons.


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