According to Eurostat data released on Friday, Romania witnessed the most substantial quarterly increase in its employment rate within the EU during the first three months of 2024. Compared to the previous quarter, Romania's employment rate jumped by 2.4%, outpacing other EU member states.
Romania's Annual Employment Growth
In a broader year-on-year comparison, Romania's employment rate has grown by an impressive 4% in the first quarter of 2024, placing it second only to Malta among EU member states. This robust growth reflects Romania's favorable economic climate and its commitment to expanding employment opportunities.
EU-Wide Employment Trends
The overall EU employment rate also experienced moderate growth during the first three months of 2024, increasing by 0.3% compared to the previous quarter and 1% compared to the first quarter of 2023. This upward trend suggests a gradual recovery in the EU's labor market following the COVID-19 pandemic.
Romania's Labor Market Breakdown
National Institute of Statistics (INS) data reveals that Romania's employment rate for the working-age population (15-64 years) stood at 63% in 2023, with over 50% of employed individuals working in the service sector. As in previous years,the employment rate was higher for men (71.7%) than for women (54.3%). Additionally, the urban employment rate (68.6%) surpassed the rural rate (57.1%).
Educational Attainment and Employment
The highest employment rate among working-age individuals was observed among those with higher education (89.8%).Meanwhile, 65.6% of those with a medium level of education were employed, compared to 36.9% of those with a low level of education.
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Employment Structure
Employees continued to represent the largest share (85.7%) of the total employed population in 2023, despite a decrease of 60,100 individuals compared to the previous year. Self-employed workers and unpaid family workers accounted for the remaining 13% of the employed population.
Romania's remarkable employment growth trajectory highlights the country's thriving labor market and its efforts to enhance economic opportunities for its citizens. As the EU's labor market continues to recover, Romania's strong performance positions it well for further economic expansion and job creation.
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Source: Agerpres
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