Romania’s Jobless Rate At 5.3% In Feb Vs 4.9% In Jan

The jobless rate was at 4.2% in February 2008.

ANOFM said the country registered 477,860 jobless people in February, from 444,907 in January.

The unemployment rate began its upward trend at the end of 2008, as the financial crisis started to bite Romania’s economy as well. Large industrial companies curbed their production and laid off employees, as the reduced worldwide demand lead to a decrease in orders.

In October, the jobless rate was at 4%, then slightly increased to 4.1% in November, while in December the unemployment rate was at 4.4%.

In 2008’s last quarter, Romania’s GDP rose by 2.9%, the lowest level in nine years, significantly below the 9.2% growth pace in the third quarter.