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The Effects Of The World Economic Crisis On The Employment In The Auto Industry

Author

Listed:
  • Alina Hagiu

    (University of Piteşti)

  • Emilia Ungureanu

    (University of Piteşti)

Abstract

The paper aims to realize an analysis of the employment evolution in Romania and in all the European Union member states in the context of the economic crisis, with an emphasis on the employment on the auto industry, one of the most affected sectors by this crisis. In the same time, we will analyze the employment policies for soften the impact of the economic crisis on the labor market. We will also analyze the link between the employment rate, labor productivity per employee and the car production and export. The unprecedented crisis in global financial markets which gathered pace last year has led to the most severe recession since the Second World War, affecting the wider economy and increasingly impacting on labor markets in the EU. After many years of relatively high growth and job creation the global financial crisis and its repercussions on the real economy are hitting businesses, jobs and households. As unemployment continues to rise, the spotlight has fallen more and more on limiting the effect of the crisis on jobs and addressing the social impact. Acting in concert, the EU has already taken important steps to address the fallout from the crisis, having taken action to prevent a meltdown in the financial markets last autumn. In December it agreed to put in place a European Economic Recovery Plan to lessen the effects of the downturn and create the conditions for recovery. The top employment challenge for the EU must be to minimize job losses, prevent unemployment from becoming entrenched, favour transitions back into employment and boost job creation, and pave the way for economic renewal and for sustainable recovery and growth.

Suggested Citation

  • Alina Hagiu & Emilia Ungureanu, 2010. "The Effects Of The World Economic Crisis On The Employment In The Auto Industry," Romanian Economic Business Review, Romanian-American University, vol. 5(3), pages 145-153, September.
    • Handle: RePEc:rau:journl:v:5:y:2010:i:3:p:145-153
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    File URL: http://www.rebe.rau.ro/RePEc/rau/journl/FA10/REBE-FA10-A11.pdf
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    References listed on IDEAS

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    1. Carone, Giuseppe & Koopman, Gert Jan & Pichelmann, Karl, 2009. "Labour market prospects and policies to soften the impact of the financial crisis," MPRA Paper 24864, University Library of Munich, Germany.
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