Skilled workforce at competitive costs

1. Low unemployment compared with the other regions in Romania

• Low unemployment rate at the level of the West Region

The unemployment rate in West Region was generally low, below the national average, despite the existing disparities at inter-county level. The higher unemployment rate registered among young people, aged 25-34 years. The unemployment rate for this group was 5%, closer to the population aged 15-24 years (4.8%).

Source: NIS (The National Institute for Statistics), (2011), Labor force in Romania, employment and unemployment in 2010

Unemployment rate and degree of compensation of the unemployed in West Region, 2009

2. High salaries due to low unemployment

The high level of employment in the West Region led to a salary level that ranks the region among the top four regions. The average gross salary is in Timis county although the value is below the level in Romania.

Although this trend is not evident in West Region, there is no salary pressure in the major sectors of the regional economy: automotive, ICT, construction.

Recent developments of the net average earnings in the counties of West Region indicate a retention level compared to 2010 or even lower, thus adjusting to the phenomenon of economic crisis growth  prior to 2010.