Analysis of correlation between the unemployment rate and gross domestic product IN THE EUROPEAN UNION
Iuga I., Cioca I.C.
Abstract: Vacancies, unemployment, wage levels and labor costs do not only affect a country's economy by lowering the Gross Domestic Product, but every person’s life. The purpose of this paper is to analyze the Gross Domestic Product and unemployment rate in the European countries for the period 2005-
Keywords: Gross domestic product, unemployment, unemployment rate
Among European Union policy there is included that relating to employment following the introduction of a chapter on the labor market in the Treaty of Amsterdam in 1997. Europe and the whole world, since 2008, have passed through an economic and financial crisis, which apparently is ongoing. Years of economic and social progress have been affected by this crisis, highlighting the deficiencies of Europe's economy.
According to European Communication Commission , Europe Strategy 2020 puts forward three mutually reinforcing priorities: smart growth (developing an economy based on knowledge and innovation); sustainable growth (promoting a more efficient economy in terms of resource use, more ecological and competitive); inclusive growth (fostering an economy with a high rate of employment, to ensure social and territorial cohesion).
European Union needs to define where it wants to develop by 2020. In this perspective, the Commission proposes the following main targets for EU: 75% of the population aged between 20 and 64 should have a job, 3% of EU's GDP should be invested in research and development; rate of early school leavers should be under 10% and at least 40% of the younger generation should have higher education; the number of people at risk of poverty should be reduced by 20 million.
Miron Wolnicki, Eugeniusz Kwiatkowski and Ryszard Piasecki , explain the sources of jobless growth in Poland, the country undergoing economic system transition and integration with the European Union .
Other papers examine the link between macroeconomic development and evolution of the unemployment rate: Hakan Berument, Nukhet Dogan, Aysıt Tansel , in their paper, check if various macroeconomic shocks have different effects on global unemployment and unemployment on different levels of education in Turkey. Persefoni V. Tsaliki  argues that unemployment is a systemic element of economic development and which does not need, and "normally" does not create, full employment of labor force, regardless of flexibility in labor markets. Misbah Tanveer Choudhry, Enrico Marelli, Marcello Signorell , in their paper, assess the impact of financial crisis on young people. The authors consider different types of financial crises and different groups of countries according to their income level
From the analysis of GDP in Europe in 2011, we see that only highly industrialized countries have a high value of this indicator. Only 5 countries exceed the amount of 600 billion euros. In the year 2011 the value of the country's GDP in Poland is double than in Romania. Regarding the growth of GDP in 2011 compared to 2005, it appears that in only two countries the value of GDP decreased in 2011 compared to 2005: Ireland and the UK. In Romania, the development of GDP was fluctuating over the period 2005-
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ANALIZA KORELACJI MIĘDZY STOPĄ BEZROBOCIĄ A PRODUKTEM KRAJOWYM BURTTO W UNII EUROPEJSKIEJ
Streszczenie: Miejsca pracy, bezrobocie, wysokość pensji i kosztów pracy nie tylko wpływa na kondycję krajowej gospodarki, poprzez obniżenie poziomu Produktu Krajowego Brutto, ale także na życie każdego człowieka. Celem niniejszego artykułu była analiza poziomu PKB i stopy bezrobocia w krajach Unii Europejskiej w okresie 2005-
Słowa kluczowe: Produkt Krajowy Brutto, bezrobocie, stopa bezrobocia