Romania: Unemployment at EU Average but Higher than Neighboring Countries

In September 2024, Romania recorded an unemployment rate of 5.5%, placing it slightly below the European Union (EU) average of 5.9% and under the eurozone’s rate of 6.3%. According to Eurostat data, Romania’s unemployment rate remains stable, reflecting a labor market that, while facing similar challenges to other European countries, shows notable regional differences.

Romania ranks around the middle among EU countries, with its unemployment rate close to the EU average (5.9%) and slightly below that of the eurozone (6.3%), indicating moderate labor market performance in the European context. Compared to its neighbors, Romania shows a similar unemployment level to Hungary (4.3%) but significantly higher than Poland (2.9%) and the Czech Republic (2.8%), two of the most stable countries in the EU in terms of employment.

The Czech Republic and Poland, with unemployment rates below 3%, manage to maintain a better balance between labor demand and supply, supported by economies that foster stability and workforce integration. By contrast, Bulgaria, Romania’s southern neighbor, has an unemployment rate of 4.0%, slightly lower than Romania’s but indicative of a similar challenge in attracting and retaining the workforce. To the west, Hungary, with a 4.3% rate, benefits from a relatively stable labor market.

EU and Eurozone Unemployment Situation

In September 2024, the seasonally adjusted unemployment rate in the eurozone remained at 6.3%, the same as in August, but down from 6.6% in September 2023. Across the EU, the unemployment rate was 5.9%, stable compared to the previous month and lower than the 6.1% rate recorded in September 2023. These figures indicate a slight improvement in the labor market compared to the previous year.

Total Unemployment Figures in the EU and Eurozone

Eurostat estimates that in September 2024, 13.042 million people were unemployed in the EU, of whom 10.884 million were in the eurozone. Compared to August, unemployment increased by 61,000 people in the EU and by 13,000 in the eurozone. Compared to September 2023, the number of unemployed decreased by 226,000 in the EU and by 330,000 in the eurozone, showing an overall improvement in the labor market situation.

Youth Unemployment

Youth unemployment (under 25) remains a concern in the EU. In September 2024, 2.861 million young people were unemployed in the EU, of whom 2.287 million were in the eurozone. The youth unemployment rate was 14.8% in the EU, up from 14.5% in August. In the eurozone, the youth unemployment rate reached 14.4%, up from 14.3% in the previous month. Despite some declines from the previous year, young people remain vulnerable in the labor market.

Unemployment by Gender

In September 2024, the unemployment rate for women in the EU was 6.1%, stable compared to the previous month, while for men, the rate rose slightly to 5.8%, up from 5.7% in August. In the eurozone, the unemployment rate for women remained at 6.5%, and for men, it was 6.1%, with no change from the previous month.