According to an analysis carried out by PricewaterhouseCoopers (PwC) Romania at the request of the Chamber of Commerce and Industry, the labor shortage in Romania in 2022 was 145 thousand people, and in the absence of immediate measures it could reach 224 thousand in 2026. (AmCham).

The study was presented by AmCham representatives during a press briefing organized on October 4 in Bucharest.

According to the source, the estimated labor shortage could be even higher, according to the current short-term needs of the private sector, namely 226,000 people in 2022, estimated to reach 350,000 in 2026.

The economic impact, defined as lost productivity, is estimated at €4.4 billion or the equivalent of 10% nominal GDP growth in 2022.

This amount will double by 2026 and reach 9.5 billion euros, the authors of the study warn, in the absence of measures in this regard.

The most affected sectors, according to the PwC study, are the manufacturing industry, the transport sector and the information and communication sector, with an average of more than 22,000 people – a shortage in 2022.

In addition, according to the official data of the National Institute of Statistics (INSSE), 70% of the total labor shortage in Romania is concentrated in developed regions – Bucharest-Ilfov and such counties as: Cluj, Timișoara, Arad, Brasov, Sibiu and Prahova. .

What needs to be done to cover the labor shortage

AmCham Romania representatives also highlighted a series of recommendations for immediate and political intervention to address the labor shortage problem identified at the European Union (EU) level, namely:

• attraction of new human resources by raising wages and living conditions, as well as by creating an active migration policy that combines systems of recognition of qualifications and abilities, anti-discrimination policy and the involvement of the diaspora;
• increasing the use of the available workforce, as well as stimulating idle resources by removing labor market barriers for various groups, such as the long-term unemployed or the inactive population.

Elizabeth Moraru, vice president of AmCham Romania, present at the event, spoke about the importance of human capital, calling it Romania’s competitive advantage until recently:

“If we cannot reverse or control digital transformation, green transit or the geopolitical context, investments and reforms in critical systems – education, health care, infrastructure, administration – are what can reduce the drain of professionals, school dropouts, disparities between regions, the active population and other similar effects that pressure the labor market to the point of collapse,” added Elizabeth Moraru.

AmCham Romania was founded in 1993, and its 540 members work in 32 sectors of the economy and together provide more than 250 thousand jobs, investing more than 20 billion euros in Romania.