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Iulian Ernst
Senior Editor

Iulian studied physics at the University of Bucharest, and he sees himself as a physicist in the broadest sense of the word. He also studied economics at Charles University in Prague and Central European University in Budapest, after a master’s program in business administration at Bucharest Academy of Economic Studies. Since recently, he’s been exploring coding and data analysis for business and economics. As a freelancer, he worked for nearly two decades as an analyst for ISI Emerging Markets, Euromonitor International, Business New Europe, but also as a consultant for OMV Petrom and UkrAgroConsult. Iulian was part of the founding team of Ziarul Financiar. At Romania Insider, which he joined in 2018, he is reviewing the latest economic developments for the premium bulletins and newsletters. He would gladly discuss topics such as macroeconomics, emerging markets, Prague, energy sector including renewable, Led Zeppelin, financial services, as well as tech start-ups and innovative technologies. Email him at iulian@romania-insider.com. 

 

Unemployment in Romania eases slightly in November

Romania's ILO unemployment rate remains among the lowest in Europe - 5.1% in November, for the 15-74 age bracket, down from 5.2% one month before. The rate is slightly higher compared to 4.0% in November 2019.

The number of working-age people actively seeking jobs increased by 30% year-on-year to 461,689 in November, News.ro reported. The rise was steeper (+44%) for the  25-74 age bracket where the unemployment rate is lower: 4.1% in November, up from 2.9% one year earlier.

Migration, education (not providing the necessary skills), and low wages contribute traditionally to Romania's low unemployment. None of these factors has changed recently enough to reverse the trend.

Moreover, low-skilled workers have to choose between the minimum wage and the social security benefits according to existing regulations. One of the reforms proposed by the European funds' minister Cristian Ghinea is changing the social security benefits system to encourage this category of people to accept low-paid jobs while still getting some kind of social security benefits.

The share of the young population not in employment, education or training (NEETS) made up 17.3% of the population aged 20-34 in Romania in 2019 - the fourth biggest share after Italy, Greece, and Slovakia.

iulian@romania-insider.com

(Photo source: Pexels.com)

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Profile picture for user iuliane
Iulian Ernst
Senior Editor

Iulian studied physics at the University of Bucharest, and he sees himself as a physicist in the broadest sense of the word. He also studied economics at Charles University in Prague and Central European University in Budapest, after a master’s program in business administration at Bucharest Academy of Economic Studies. Since recently, he’s been exploring coding and data analysis for business and economics. As a freelancer, he worked for nearly two decades as an analyst for ISI Emerging Markets, Euromonitor International, Business New Europe, but also as a consultant for OMV Petrom and UkrAgroConsult. Iulian was part of the founding team of Ziarul Financiar. At Romania Insider, which he joined in 2018, he is reviewing the latest economic developments for the premium bulletins and newsletters. He would gladly discuss topics such as macroeconomics, emerging markets, Prague, energy sector including renewable, Led Zeppelin, financial services, as well as tech start-ups and innovative technologies. Email him at iulian@romania-insider.com. 

 

Unemployment in Romania eases slightly in November

Romania's ILO unemployment rate remains among the lowest in Europe - 5.1% in November, for the 15-74 age bracket, down from 5.2% one month before. The rate is slightly higher compared to 4.0% in November 2019.

The number of working-age people actively seeking jobs increased by 30% year-on-year to 461,689 in November, News.ro reported. The rise was steeper (+44%) for the  25-74 age bracket where the unemployment rate is lower: 4.1% in November, up from 2.9% one year earlier.

Migration, education (not providing the necessary skills), and low wages contribute traditionally to Romania's low unemployment. None of these factors has changed recently enough to reverse the trend.

Moreover, low-skilled workers have to choose between the minimum wage and the social security benefits according to existing regulations. One of the reforms proposed by the European funds' minister Cristian Ghinea is changing the social security benefits system to encourage this category of people to accept low-paid jobs while still getting some kind of social security benefits.

The share of the young population not in employment, education or training (NEETS) made up 17.3% of the population aged 20-34 in Romania in 2019 - the fourth biggest share after Italy, Greece, and Slovakia.

iulian@romania-insider.com

(Photo source: Pexels.com)

Normal
 

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