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World Bank official: Romania will reach unemployment peak in mid-2010

de Dragos Comache, transl/adapt. C.B.
Joi, 1 aprilie 2010, 15:44 English | Top News

Romania will reach unemployment peak at the middle of the current year, World Banc senior economist Catalin Pauna said on Thursday, April 1. He added that it was difficult to make a prediction because the signs the economy shows are not clear. The World Bank official indicated that he was expecting the unemployment rate to grow, both in the private and the public sector.

"The unemployment will continue to go up as the companies will carry on being restructured. I believe that the redundancy rate will increase, at least in the next months", Catalin Pauna said.

The World Bank estimates the official unemployment rate to reach 7.7% in Romania by the end of 2010. The figures are actually dropping if one looks at the December 2009 redundancy percentage, namely 8.4%.

According to the National Employment Agency (ANOFM), the unemployment rate was 8.1% in January, going up to 8.3% in February, compared with 4.9%, the figures for February 2009.

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