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Romania Could Have 620,000 Unemployed People By Yearend – Labor Min

Romanian labor minister Marian Sarbu said Friday Romania could register 620,000 unemployed people by the end of the year, citing data from the National Forecast Commission, or CNP
Romania Could Have 620,000 Unemployed People By Yearend - Labor Min
17 iul. 2009, 14:02, English

The minister said in Romania, unlike other European countries, the crisis has specific effects on the labor market.

"We have large workforce resources in rural areas and they will be the biggest challenge for the labor market. Romania still practices subsistence farming and many EU funds will go to rural areas,” Sarbu said.

The labor minister underscored that unemployment is on the rise in Romania and will near 6%.

Sarbu added that EU labor ministers consider Romania’s jobless rate is not very worrisome compared to rates in other countries.

Sarbu also said many people living in rural areas aren’t registered as workers, and the real number of unemployed people is certainly higher.

Romania’s unemployment rate in June was at 6%, up 0.2 percentage points compared to May, according to the country’s national employment agency ANOFM.

Romanian President Traian Basescu said early May that Romania would be in big trouble if the jobless rate were to hit 10%, but added the situation will be avoided if state institutions manage the situation well.