LABOUR MARKET RESILIENCE- COMPARATIVE EVIDENCE FROM ROMANIAN COUNTIES

Abstract

In economics, the concept of resilience illustrates the adaptability capacity of a system after an external shock. The goal of the empirical analysis presented in this paper is to investigate the labor market resilience of Romanian Counties relative to the economic crisis whose negative effects occurred since 2009. The counties are compared in terms of resistance or sensitivity to the shock, speed of recovery after the shock. These dimensions were assessed by means of statistical analysis of employment and unemployment rate evolution. With respect to the factors that could influence the trajectory of the system after a recessionary shock, this study discusses the correlation between different types of resilience and economic diversification.

Keywords

• Labour market resilience
• Regional
• Employment
• Recessionary shocks