The labour shortage in Romania could reach 224,000 people in 2026 if no immediate measures are taken, compared to an estimated 145,000 people in 2022, Alex Milcev, member of the Board of Directors of AmCham Romania, told a press conference on Wednesday.He presented data from an analysis of the economic impact of the labour shortage in Romania. The research was conducted for AmCham Romania by PwC.According to the report, the economic impact of the labour shortage in 2022, defined as loss of productivity, is estimated at EUR 4.4 billion or 10% of nominal GDP growth in 2022. This amount will double by 2026 and reach EUR 9.5 billion in the absence of measures."Given an estimated labour shortage of 145,000 people and an average labour productivity of EUR 30,000 (without taking into account industry or occupation specificities), the economic impact of the labour shortage in terms of lost productivity is EUR 4.4 billion in 2022. By 2026, the economic impact is estimated to reach EUR 9.5 billion," explain the study's authors.In addition, from the perspective of tax revenues to the state budget, associated with the labour shortage, the authors of the study note an impact of about EUR 1.1 billion for 2022 that may reach EUR 2.4 billion by 2026.Regarding the inactive population, he pointed out that Romania has many people who could work and could contribute to Romania's economic development, but for various reasons do not contribute.In his opinion, it is very worrying that two out of ten Romanians aged between 15 and 24 are unemployed, namely. those who have graduated from high school or technical schools or have perhaps even finished university.However, he stressed that a quick fix would be to attract labour from abroad, from the non-EU area.According to him, more important but much harder to do is to activate or reactivate a significant pool of talent, those people who are in the country but not in the workforce (unemployed, young and retired).He pointed out that those young people who are not in education, training or employment - aged between 15 and 24 - total around 350,000 people, representing "a mass of wasted talent at the moment."
The third breast milk bank in Romania has opened at the Sibiu County Hospital, following a RON 13.5 million (about EUR 2.7 million) investment aimed at modernizing the hospital’s neonatology department. The modernization project, financed through the National Recovery and Resilience Plan, included the replacement of old equipment, a 20% increase in the number of […]
President Nicuşor Dan stated on Wednesday, July 30, in a press conference that the current system, which allows magistrates to retire under the age of 50 with a pension higher than their salary, is absurd. He also criticized the Superior Council of Magistracy, or CSM, for the current “disorderly” state of the Romanian justice system. […]
Forty Romanian firefighters and eight fire trucks left for Greece on Wednesday, July 30, to participate in firefighting missions, the General Inspectorate for Emergency Situations said. Between August 1 and September 15, Romania will take part in the Directorate-General for European Civil Protection and Humanitarian Aid Operations (DG ECHO) program aiming to support the Greek […]
Integrated facility and property management services provider Nazca has opened its first office outside Italy, its domestic market, in Bucharest. Nazca expects revenues of over EUR 1 million next year in Romania, and in the next 3 years, the growth plan aims to reach EUR 10 million, with target sectors being office buildings, retail, industrial […]
The 19th edition of TIFF Sibiu, one of the local editions of the Transilvania International Film Festival (TIFF), the largest film event in the county, will present a program of international films and the latest productions by Romanian fillmakers, who will attend the event. The festival takes place between August 7 and August 10, with […]
Moldovan carrier Flyone will add a route between Bucharest and Munich starting in October. The flights to Munich will be operated on Mondays, Wednesdays, and Fridays. This adds to the flights it has connecting the Romanian capital to Tel Aviv, Brussels, and Verona. With these routes, the airline is responding to the constant demand from […]
