Thursday, December 10, 2009

Romania Nov unemployment rises to 7.5 percent

BUCHAREST, Dec 9 (Reuters) - Romania's unemployment rate rose to 7.5 percent in November from 7.1 percent a month earlier, the employment agency said on Wednesday.

Dwindling demand from the euro zone has hurt central and eastern European economies this year, forcing many companies to reduce output and lay off workers.

Bucharest needs to make deep spending cuts to curb Romania's large imbalances, since the country secured 20 billion euros in aid from international lenders earlier this year and political wrangling triggered a cabinet collapse and a halt aid funds.

This will also mean restructuring of its inefficient public sector, which employs about a third of Romania's workforce.

NOV 09 OCT 09 NOV 08

Number of unemployed 683,123 653,939 376,971
Jobless rate 7.5 7.1 4.1

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