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Cascading Consequences Of Unemployment

Author

Listed:
  • Florica ȘTEFĂNESCU

    (Doctoral School of Economic Sciences, Faculty of Economic Sciences, University of Oradea, Oradea, Romania)

  • Tünde-Ilona KELE

    (Doctoral School of Economic Sciences, Faculty of Economic Sciences, University of Oradea, Oradea, Romania)

Abstract

Combating poverty represents one of the challenges of the modern economy and Europe's geopolitical situation contributes to worsening this problem. Economic growth and employment rate are determinants of the level of poverty in a society. Unemployment and its consequences are widely approached both in economic literature and in sociology and psychology. In the first part of the paper, we carried out a conceptual presentation of the economic and social consequences of unemployment at the national, individual, and family level. In the second part, starting from Okun's law, we made an analysis of the relationship between the gross domestic product and unemployment rate for the period from 2005-2022 in Romania. In order to carry out the research, we used a series of statistical data regarding the unemployment rate available in the Monthly Bulletins of the National Bank of Romania (NBR) and data on GDP available on the website of the National Institute of Statistics of Romania (NIS). We worked with data regarding the situation in Romania from the first quarter of 2005 – fourth quarter of 2022. The conclusions of the paper converge towards the idea that unemployment is, nowadays, an increasingly complex phenomenon, being generated by a multitude of factors and which, in turn, determine multilevel direct and indirect consequences.

Suggested Citation

  • Florica ȘTEFĂNESCU & Tünde-Ilona KELE, 2023. "Cascading Consequences Of Unemployment," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 32(1), pages 271-282, July.
    • Handle: RePEc:ora:journl:v:32:y:2023:i:1:p:271-282
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    References listed on IDEAS

    as
    1. Nick Drydakis, 2023. "Parental unemployment and adolescents' academic performance," International Journal of Manpower, Emerald Group Publishing Limited, vol. 44(7), pages 1362-1381, February.
    2. Mörk, Eva & Sjögren, Anna & Svaleryd, Helena, 2020. "Consequences of parental job loss on the family environment and on human capital formation-Evidence from workplace closures," Labour Economics, Elsevier, vol. 67(C).
    3. John F. Helliwell & Haifang Huang, 2014. "New Measures Of The Costs Of Unemployment: Evidence From The Subjective Well-Being Of 3.3 Million Americans," Economic Inquiry, Western Economic Association International, vol. 52(4), pages 1485-1502, October.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    unemployment; gross domestic product; statistical analysis;
    All these keywords.

    JEL classification:

    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
    • I24 - Health, Education, and Welfare - - Education - - - Education and Inequality
    • I32 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Measurement and Analysis of Poverty

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