Tuesday, March 9, 2010

Romania Feb unemployment rises to 8.3 percent

BUCHAREST, March 8 (Reuters) - Romania's unemployment rate rose to 8.3 percent in February from January's 8.1 percent, the employment agency said on Monday.

Falling demand from the euro zone, Romania's main trading partner, has hurt central and eastern European economies, forcing many companies in the state-controlled and private sectors to cut output and lay off personnel.

Bucharest needs to make deep spending cuts to curb the emerging economy's large imbalances, since the country secured 20 billion euros in aid from international lenders in 2009 to lift its economy out of recession.

Among these, it plans to cut up to 100,000 jobs to streamline a bloated public administration in 2010.
FEB 10 JAN 10 FEB 09

Number of unemployed 762,375 740,982 477,860
Jobless rate 8.3 8.1 5.3

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