Qualified Romania
3 oct 2023
The figures highlight Romania's commitment to maintaining a balanced labor market despite fluctuations.
In the most recent report from Eurostat, the statistical office of the European Union, the employment landscape in both the Euro area and the EU continues to display encouraging signs of progress.
August 2023 saw the seasonally adjusted unemployment rate for the Euro area at 6.4%, a slight dip from the preceding month's 6.5%. On a broader scale, the European Union experienced a decrease in unemployment as well, with its rate declining from 6.0% in July 2023 to 5.9%.
Shifting our focus to Romania, we observe a commendable stability in its unemployment scenario. August 2022 marked an unemployment rate of 5.5%, and this figure remained constant through May and June 2023. In July 2023, there was a minor uptick, reaching 5.6%. However, by August 2023, Romania's unemployment rate exhibited a decline to 5.4%. These figures underscore Romania's commitment to sustaining a well-balanced labor market amidst occasional fluctuations.
Youth Unemployment in Romania:
Youth unemployment, often a significant concern, has showcased notable improvements in Romania. In August 2022, the youth unemployment rate stood at 22.9%, impacting 119,000 young individuals. By May 2023, this rate had decreased to 22.3%, with 107,000 young people unemployed. While specific data for July and August 2023 is currently unavailable, the consistent downward trend in youth unemployment signifies ongoing efforts to enhance opportunities for young Romanians.
Unemployment by Gender in Romania:
Unemployment rates by gender offer valuable insights within Romania. In August 2023, the unemployment rate for males remained at 5.9%, indicating stability in the labor market for this demographic. Conversely, the unemployment rate for females was slightly lower, at 4.9%. These figures highlight a relatively narrow gender gap in unemployment, with consistent rates for both males and females in recent months.
Romania's consistent unemployment rates, coupled with the broader positive trends witnessed in the Euro area and the EU, demonstrate resilience in the face of economic challenges. As Romania continues to navigate the complexities of the labor market, maintaining this stability remains a top priority.
Key Euro Area and EU Unemployment Rates:
The seasonally adjusted unemployment rate for the Euro area in August 2023 stood at 6.4%, down from 6.5% in July 2023 and a significant improvement from 6.7% in August 2022.
The European Union (EU) as a whole recorded an unemployment rate of 5.9% in August 2023, down from 6.0% in July 2023 and 6.1% in August 2022.
Unemployment Figures:
Eurostat estimates that in August 2023, approximately 12.837 million individuals in the EU and 10.856 million in the Euro area were unemployed. Compared to the previous month (July 2023), unemployment decreased by 112 thousand in the EU and by 107 thousand in the Euro area. In contrast, compared to August 2022, there was a substantial reduction in unemployment, with 335 thousand fewer jobless individuals in the EU and 407 thousand fewer in the Euro area.
Youth Unemployment:
Among young individuals under the age of 25, there were 2.687 million unemployed in the EU and 2.194 million in the Euro area during August 2023. The youth unemployment rate remained stable at 14.0% in the EU, compared to July 2023, while it decreased to 13.8% in the Euro area, down from 13.9% the previous month. In comparison to July 2023, youth unemployment decreased by 10 thousand in the EU and by 24 thousand in the Euro area. Additionally, compared to August 2022, there were 141 thousand fewer unemployed youths in the EU and 145 thousand fewer in the Euro area.
Unemployment by Gender:
In August 2023, the unemployment rate for women in the EU was 6.2%, remaining stable compared to July 2023. Meanwhile, the unemployment rate for men was 5.7%, also stable compared to the previous month. In the Euro area, the unemployment rate for women decreased from 6.8% in July 2023 to 6.7% in August 2023, while the unemployment rate for men decreased from 6.2% to 6.1% during the same period.
source: