Premium
Romania's workforce stayed at its level of one decade ago, private enterprise is frightened and 450,000 industrial jobs were lost, PwC Romania partner Vasile Iuga told a conference on Tuesday on problems facing Romanian manufacturers.
"Foreign capital makes up 8 percent of the total of companies operating in Romania, owns 40 percent of the assets and employs one quarter of the total workforce, conducting 80 percent of exports on a profitability that is three times bigger than industrial productivity in Romania. In the industrial sector, 65 percent of the gross added value comes from foreign capital. A brief look at the economy reveals 600,000 companies operating in Romania. The number of companies per one thousand people is 22 in Romania, compared with 43, as is the EU average, which indicates frightened private enterprise," Iuga told a conference that discussed the gap between Romania's economy and productive Romania, along with necessary policies to bridge it.
Iuga went on to say Romania's workforce over the past decade has stayed somewhat the same, at 4.6-4.7 million people, after a dip to 4.1 million employees in 2011.
"As many as 450,00 industrial jobs were lost. The number of trade jobs advanced by 225,000, to 750,000, the number of communications jobs increased by 80,000, but so did the jobs in the public administration, which increased by 200,000," said the PwC official.
