The impact of the economic crises on romanian labour market

Part of : WSEAS transactions on business and economics ; Vol.6, No.7, 2009, pages 362-373

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Pages:
362-373
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Abstract:
The international economic crisis, initially emerging as a series of financial disruptions in theworld’s highly developed countries, has severely destabilized all the sectors of our daily life, whethereconomic, social, cultural or otherwise. The labour market is the most afflicted area given its particularsensibility to negative stimuli. The important role played by this market (it ensures the labour supply inrelation to the employment demand of firms), is no longer a new concept. Therefore, we can say that theRomanian labour market represents a good example to illustrate the difficulty of creating the conditions thatcould make labour supply more adaptive and flexible in a very dynamic business environment, satisfying avery exigent labour demand taking into account the technology evolution and building high quality new workplaces. In the last almost two decades, the evolution of the Romanian labour market was spectacular, bycomparison to the analogue phenomena in the developed countries of the European Union. Thetransformations undergone by the labour market have been quite profuse and their impact on the environmentsignificant. One of the most important ones being that the global economic crises generated a reduction of thegeneral economic activity. As a direct consequence of this evolution, the labour market suffered a strongimbalance, a lot of Romanian workers are returning for a safe work place in Romania, but the nationaleconomy is not capable to help them. The subject of this paper is to make some appreciations about whatcould happen in the future and how the Romanian firms and authorities could react to one of the biggest issueof economic crises, respectively the unemployment and the instability of the work places in a very disturbingeconomic environment.
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Keywords:
labour market, economic environment, economic crises, unemployment, work place, instability, dynamic
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