The Correlation Between Gross Domestic Product and Unemployment in Romania Starting with 1995

Abstract

It is known that until the late 1980s, in Romania, the term “unemployed” was practically unused, the centralized economy having as major goal the complete occupancy. Starting with 1990, this phenomenon was manifested itself in our country as well, as a result of the imbalance of the labor market. To understand and represent the macroeconomic phenomena better, the paper presents the analysis of the relationship between the Gross domestic product and the unemployment, as well as the current influences. The conclusions show the fact that beginning with 1995, their dynamics included a relationship, broken by the effects of the world economic crisis present in our country as well.

Keywords

• correlations
• Gross Domestic Product
• Okun’s Law
• unemployment