Romanian Jobless Rate Will Rise Until the End of the Year

Romanian Prime Minister Emil Boc announced on Sunday that the Government estimates an increase in the country’s unemployment rate until the end of 2010, caused by the austerity measures applied in the public sector. The official also pointed that the decrease in the country's jobless rate observed in the past few months was driven by the summer period.

 

Boc stressed that, although revenues to the social security budget are similar to those in the first half of 2009, the situation doesn’t look good because the costs with unemployment benefits are expected to double due to the restructuring process is the public sector.

 

Still, Romania's jobless rate is way below the average of other European Union countries, pointing 7.44% in June, from 7.67% a month earlier.