Investigating the Causes of the Current Labor Shortage in Romania

Abstract

In the evolution of human society, the labour force has been the main component of the means of production. Without this element, the economic and social life would not even exist today, related to the level of development attained. Human capital, or highly qualified workforce, is an essential resource. Developed countries faced with an excess of demand for skilled workers that cannot be covered by the internal labor force formed in the national education system. As a result, developing countries become extremely competitive in attracting highly qualified workforce to bridge this gap. Unfavorable demographic trends, lack of skills and persistence of high unemployment have contributed to the reconsideration of restrictive policies on international labor migration. In this respect, we intend to analyse in this article the causes of the current shortage on the Romanian labour market. Thus, we will address the demographic, educational and migratory phenomena, identifying the impact of these factors on the socio-economic environment.