The Dynamics of the European Labour Market and Unemployment in the Present Context of Global Economic Crisis: The Case of Romania

Abstract

This paper aims to analyse the dimensions of the European labour market, the dynamics of unemployment and the relation between labour process and globalization in the present context of global economic and financial crisis, by taking into account that labour markets tend to recover slowly after a general slowdown in economic activity and, usually, remain behind economic growth, unemployment reaching higher levels than before the crisis. The analysis is based on a set of specific labour market indicators that will underline the labour market policies and measures that need to be adopted in order to increase labour productivity, with positive effects on long-term economic development. Thus, as consequence of the present world economic and financial crisis, both developed and developing economies are facing massive adjustments of the labour markets, due to increasing number of unemployed persons and increasing level of poverty. Labour market policies should therefore play a complementary role in the answer to the crisis, along with other macroeconomic policies, in order to maintain labour demand by creating new jobs, maintaining the existing ones and improving the possibilities of employment for unemployed persons through improving the compatibility between labour demand and supply.economic crisis, labour market, vulnerable employment, labour market policies