Moldova has lowest unemployment rate on European continent, economist


The economic growth, migration and structure of the population that is dominated by the rural one make the Republic of Moldova have the lowest unemployment rate on the European continent. Economist Iurie Morcotylo, of the Think Tank Expert-Grup, has told IPN that even if the number of jobless people rose by 8,000 in the third quarter of this year compared with the corresponding period last year, from 30,000 to 38,000, the figure is not at all high when the unemployment rate is of 4%.

The economist explained that the unemployment rate is low because Moldova during the last four years had economic growth. New businesses could be started and, consequently, the demand for labor force increased. The emigration of labor force also contributes to a low unemployment rate.

Also, most of the people live in rural areas and cultivate the land. As a part of the population works unofficially, they are not covered by unemployment statistics.

The unemployment rate differs from one age group to another. In the case of those who are aged over 30, this rate is lower, while for young people is higher, of about 12%. “I would say that unemployment is not a fundamental problem for Moldova at present. But even if it’s so, work should be done with those categories that are more affected, like the young people, through fiscal programs, information campaigns,” stated Iurie Morcotylo.

He noted that to reduce the unemployment rate, the authorities should implement mechanisms that would improve intermediation between employer and employee so as to help those out of work to swifter find a suitable job. The policies to reeducate or reorient the unemployed should be adjusted to the conditions in Moldova.