A remarkable turning-point in the Romanian economy has just been reached. The number of retired people and employed people in Romania are now roughly equal, latest figures show. This is an almost incredible thing. In comparison, in 2000 there were two pensioners for every one employed person.
Figures issued yesterday by the Minister of Labour show that 5.7 million Romanians are now employed, of whom 5.2 million have permanent full-time jobs while 5.2 million receive state pensions - out of a population that has fallen to a fraction under 20 million. So a little over a quarter of the population are now in permanent full-time jobs.
Unfortunately I presume the causes of this change are a high mortality rate, not a high birth rate.
On average in developed countries 65 % of people of working age are employed and here it is 64%. More figures here.
Figures issued yesterday by the Minister of Labour show that 5.7 million Romanians are now employed, of whom 5.2 million have permanent full-time jobs while 5.2 million receive state pensions - out of a population that has fallen to a fraction under 20 million. So a little over a quarter of the population are now in permanent full-time jobs.
Unfortunately I presume the causes of this change are a high mortality rate, not a high birth rate.
On average in developed countries 65 % of people of working age are employed and here it is 64%. More figures here.
Actually the real turning point was several years ago when the number of pensioners exceeded those in the PRIVATE sector. In fact the situation in Romania is probably the worse in the whole of Europe - compounded by government policies that encouraged early retirement (to keep unemployment down) and the borrowing of money on the international markets to pay pensions and other benefits. One day the penny will drop and then things will get interesting....
ReplyDeleteI wonder if you read what I wrote carefully. Things have improved very markedly.
ReplyDeleteSo, 18.5m people with voting rights (on the voting lists for 3nov2014), living in Romania. Out of these, 5.7m employed and add the other 5.2m on state pensions. It remains about 7.6m - where are they, what the fuck are these doing? Are they teens and students? It will mean Romania has the youngest population in europe. Are they working on the black/grey market? Again ... great!!! So, could anyone tell me how a country of 20m could survive on a 5.2m employees (an employment rate of less than 30%)!
ReplyDelete