Labor minister expects 620,000 will be jobless this year

Minister of Labor, Marian Sarbu said the number of laid-off workers will be contained in the target range of the National Prognosis Commission (CNP), of 620,000 and said “the unemployment rate will not continue rising” next year.

“At this point, we have an unemployment rate of 6.3-6.4%, which is manageable. At the budget revision, we added the amounts necessary to cover all the jobless claims. If the economy shows signs of recovery, we may not exhaust all funds allocated to the payment of unemployment benefits”, said Sarbu.

“I expect the unemployment rate to stay in the CNP’s target range, of 620,000 jobless, and it is less likely to see an increase in the pool of jobless.

The latter statistical report show unemployment rate increased in July for the 13th successive month by 23,632 up to a five-year high of 572,562. Jobless rate soared to 6.3% from 6% in June.

Following a decrease in taxpayer contributions, the Government decided to increase funds for benefit rolls by 895.3 million lei.

Earlier in June, the minister of labor, Marian Sarbu said in a worst case scenario, the unemployment rate may reach 8% by year end.

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