The Labour Market Crisis in Romania Causes, Effects and Potential Solutions

Abstract

Abstract We are going through troubled times, with worldwide pandemic crises affecting us altogether: citizens, companies and states. This article presents analyses and solutions to the workforce crisis of December 2019 and the workplace crisis of March 2020. Things have escalated from a workforce crisis to a new stage, namely an accelerated loss of workplaces and to a workplace crisis. In a matter of weeks, the labour market has moved from one extreme to the other extremely fast because of a very rough natural phenomenon which could not have been predicted, i.e. the global pandemic crisis caused by the COVID-19 coronavirus. It goes without saying that we all wish to achieve a relative balance on the labour market. This study puts forward concrete solutions adapted to the situation of the Romanian labour market at the end of 2019, when we saw a significant workforce crisis which severely affected companies’ business development objectives. At the same time, it introduces 11 solutions to the new job crisis, which is quickly expanding as a result of the global pandemic caused by the COVID-19 virus and by the declaration of a state of emergency in Romania. In a few weeks of crisis, Romania went from minus 1 million workers to plus 1 million workers. This is an extremely difficult situation. However, I believe that it is temporary and that after the pandemic crisis both the economy and the labour market will gradually recover.