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The Dynamics of the European Labour Market and Unemployment in the Present Context of Global Economic Crisis: The Case of Romania

Author

Listed:
  • Liana SON

    (West University of Timisoara, Faculty of Economics and Business Administration, Romania)

  • Gratiela Georgiana CARICA

    (West University of Timisoara, Faculty of Economics and Business Administration, Romania)

Abstract

This paper aims to analyse the dimensions of the European labour market, the dynamics of unemployment and the relation between labour process and globalization in the present context of global economic and financial crisis, by taking into account that labour markets tend to recover slowly after a general slowdown in economic activity and, usually, remain behind economic growth, unemployment reaching higher levels than before the crisis. The analysis is based on a set of specific labour market indicators that will underline the labour market policies and measures that need to be adopted in order to increase labour productivity, with positive effects on long-term economic development. Thus, as consequence of the present world economic and financial crisis, both developed and developing economies are facing massive adjustments of the labour markets, due to increasing number of unemployed persons and increasing level of poverty. Labour market policies should therefore play a complementary role in the answer to the crisis, along with other macroeconomic policies, in order to maintain labour demand by creating new jobs, maintaining the existing ones and improving the possibilities of employment for unemployed persons through improving the compatibility between labour demand and supply.

Suggested Citation

  • Liana SON & Gratiela Georgiana CARICA, 2010. "The Dynamics of the European Labour Market and Unemployment in the Present Context of Global Economic Crisis: The Case of Romania," Timisoara Journal of Economics, West University of Timisoara, Romania, Faculty of Economics and Business Administration, vol. 3(1(9)), pages 57-64.
    • Handle: RePEc:wun:journl:tje:v03:y2010:i1(9):a06
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    References listed on IDEAS

    as
    1. Byrne, David & Strobl, Eric, 2004. "Defining unemployment in developing countries: evidence from Trinidad and Tobago," Journal of Development Economics, Elsevier, vol. 73(1), pages 465-476, February.
    2. Cazes, Sandrine., 2009. "Labour market policies in times of crisis," ILO Working Papers 994341633402676, International Labour Organization.
    3. repec:ilo:ilowps:434163 is not listed on IDEAS
    4. Thomas, Carlos & Zanetti, Francesco, 2009. "Labor market reform and price stability: An application to the Euro Area," Journal of Monetary Economics, Elsevier, vol. 56(6), pages 885-899, September.
    5. Stijn Claessens & M. Ayhan Kose & Marco E. Terrones, 2009. "What happens during recessions, crunches and busts? [Business cycles for G-7 and European countries]," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 24(60), pages 653-700.
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    Cited by:

    1. Lenuta Carp, 2012. "The Impact of FDI on the labor market in Central and Eastern Europe during the international crisis," Review of Applied Socio-Economic Research, Pro Global Science Association, vol. 3(1), pages 43-54, July.

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    Keywords

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    JEL classification:

    • J01 - Labor and Demographic Economics - - General - - - Labor Economics: General
    • J64 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Unemployment: Models, Duration, Incidence, and Job Search

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