Romanians don't feel the crisis, in spite of layoffs

More than 70,000 workers were laid off between September and the end of December, with the Cluj, Constanta, Arges and Prahova counties leading the new jobless ranking. A further 30,000 were to be laid off in January. However, most Romanians say their personal financial situation did not worsen in the past few months.

In the latest ISOMAR opinion poll, 75 percent of the respondents say the country's economy and labor market situation is worse, but only 42 percent say that their family's financial situation deteriorated since the beginning of the global crisis.

Those who expect their families' expenses to increase are rather retired than employees. However, Romanians have no clear plans to counter the crisis impact: half of them could not give one precise example of how to cope with the economic difficulties. Others say that a solution is to reduce spending, find a better job or sell some assets. Although they say that they are worried about higher expenses, due to price hikes, Romanians are still willing to make acquisitions in a year of crisis, especially as far as electronic devices are concerned, the poll shows. Regarding the labor market, three quarters of respondents say that the situation is worse in 2009, compared to last year. However, only 16 percent of Romanians expect salaries to decline and one third expect wages to remain at last year's levels. Furthermore, only one in five Romanians say that their Professional situation is poorer.

Figures come to contradict this rather optimistic approach, given 70,000 people have already been laid off and a further 60,000 are to become unemployed by April. In Cluj County alone, some 5,000 people lost their jobs in the last four months of 2008. Almost half of them were working in the machinery industry and a further 40 percent were working in constructions. In Constanta, the second county in the layoffs listing, the new unemployed come from seasonal activities. Constanta is located on the Black Sea shore and many people are working in the tourism field.

Business Standard