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."
In the context in which agri-food systems are responsible for almost one third of global greenhouse gas emissions, Auchan Romania assumes an active role in the transition of its supply chain toward a more sustainable model. At the second edition of the Climate Supplier Event, organized under the aegis of the Climate Change Summit, the […]
Janiva Magness, the winner of seven Blues Music Awards following 26 nominations, and nominated for a Grammy for a career spanning 17 albums, is set to perform at the 14th edition of the Brașov Jazz & Blues Festival, which will take place between August 14–16, 2026. Magness is one of the most valuable and influential […]
Auction house Artmark announced a major auction for this winter featuring an engraving created by Francisco Goya, the most important Spanish artist of the late 18th and early 19th centuries. Romania's late communist leader Nicolae Ceaușescu received this gift from King Juan Carlos I as a gesture of diplomacy. The engraving entitled “The Engagement – Capricho […]
Authorities managing Romania's Bicaz Gorges–Hășmaș National Park has built a fish ladder system on the Bicaz River, which will allow protected species to migrate and reproduce. There are several bridges and small bridge structures in the Bicaz River that have a “bottom sill,” meaning small waterfalls. Fish that do not jump like the trout cannot […]
The far-right opposition parties in the Romanian Parliament are set to file a motion of no confidence against the government headed by prime minister Ilie Bolojan. The motion, authored by senator Ninel Peia of the Peace – Romania First group, is specifically aimed at the reformist party Save Romania Union (USR), and is entitled “Romania […]
Romania's iconic rock singer Adrian Pleșca, known as “Artan,” died on Tuesday, December 2, after a fatal stroke, at the age of 64. The artist founded the well-known band “Timpuri Noi” in 1982 and “Partizan” in 2001, and was popular on the Romanian rock scene. Over the years, he left and returned to the two bands. Several […]
