Romania’s unemployment rate hits fresh decades-low level

Romania’s unemployment rate (under ILO standard) declined in February to 3.8 percent, the lowest level in more than two decades, National Institute of Statistics (INS) data showed on Monday.

The level of 3.8 percent is the lowest since International Labour Organization (ILO) unemployment statistical data are available in Romania (1993).

INS said that the unemployment rate was 3.9 percent in January and 4 percent in December but the series could be revised within the next months.

The number of unemployed persons aged 15-74 was 349,894in February, down from 353,700 in January and 397,940 in February 2018, according to official seasonally adjusted data.

The unemployment rate among men exceeds the rate among women by 0.8 percentage point, with 4.2 percent for men and 3.4 percent for women.

The unemployment rate represents the share of unemployed in the active population.

More foreign workers

This year, the Romanian government has adopted a decree that increases quotas for non-EU foreign workers in 2019 up to 20,000 work permits, an all-time high number, as there is higher demand from local companies claiming they are affected by the workforce crisis.

Employers claim it’s harder than ever to find new workers in Romania in sectors like construction works or shipbuilding and prefer to bring foreign workers.