The negative economic growth wasn’t conducive to job creation and employment rates declined in 2012 to their lowest level in a decade. Unemployment reached 23 % according to data from the Republic Statistical Office and is mostly structural: around ¾ of all unemployed persons have been without a job for more than a year. Even more worrying is the fact that employment declined even in sectors which had positive growth rates, implying gains in labour productivity and increasing informalities. Youth unemployment, reaching 51% in 2012, is significantly above the average rate. 2013 is bringing first signs of recovery of the economy. The future economic development should be based on sustainable grounds.
Ensuring a safe, stable and prosperous life for allmore