Romania Faces a Need for 440,000 Workers by 2026 Amidst a Paradox

Romania requires approximately 440,000 employees by 2026, but here lies a paradox: 5 million people are of working age but remain unemployed. The economic impact of this labor shortage for the previous year is estimated at €4.4 billion, equivalent to 10% of the nominal GDP growth in 2022.

Last year, Romania's labor force deficit was estimated at 145,000 individuals and could surpass 224,000 by 2026 if specific measures are not taken.

Romania's economic growth hinges on its workforce, and at this juncture, the country's development is in question, as stated by Alex Milcev, a member of the Board of Directors at AmCham Romania. There is an immediate need for approximately 440,000 employees by 2026 to meet Romania's targets regarding GDP and economic growth.

Interestingly, these 440,000 needed workers could be readily found within the pool of 5 million working-age Romanians who are not currently employed. Romania has only 5 million salaried workers among its 20 million inhabitants, accounting for just 25%. In contrast, Hungary and the Czech Republic have 5 million employees among their 10 million populations, constituting a 50% workforce. The remaining 5 million in Romania are employable but remain jobless.

"The labor force deficit in Romania is substantial and impacts the national economy's capacity to grow. One of the immediate remedies is attracting labor from outside the EU. Furthermore, it is crucial to activate or reactivate a significant pool of local talent, specifically those aged between 15 and 24, totaling approximately 350,000 individuals. Education takes time. However, measures must be taken, and they must be taken today. Without these challenging and costly measures, which require patience and efforts exceeding any electoral cycle, Romania's economic situation and development remain uncertain," he emphasized during a press conference.

source: www.zf.ro