Wednesday, June 9, 2010

Romania Jobless Rate Falls in May

Romania's unemployment rate fell in May to 7.67 per cent from 8.07 per cent in the previous month, the country's national employment agency ANOFM announced Tuesday.

The number of of unemployed people stood at 701,854 in May, compared with 738,187 in April. In May 2009, the unemployment rate was at 5.7 per cent.

Romania's total labor force at the end of 2009 was estimated to be 9.75 million people.

The number of unemployed is expected to rise in 2010, particularly in light of the government's planned cuts in the public sector, which aim to help lower the budget deficit to 5.9 per cent of GDP versus the 7.2 per cent of GDP seen last year.

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