Labour force participation rate in Moldova falls to 41.8%
The number of employable people in Moldova has declined by over 400,000 in the past 19 years, according to data from the National Bureau of Statistics. In 2003, there were 1.3 million employable people in the country, but this number fell to 890,000 in 2022.
The decline in the number of employable people is due to a number of factors, including emigration, an ageing population, and a decrease in the birth rate. The share of employable men and women is about the same, with each accounting for about 45% of the total.
The participation rate in the labour force, which measures the percentage of people who are either employed or actively looking for work, has also declined in recent years. In 2022, the participation rate was 41.8%, down from 49.3% in 2003.
The decline in the labour force is a major challenge for Moldova's economy, as it makes it more difficult to find workers to fill jobs. The government has taken some steps to address this challenge, such as providing incentives for businesses to create new jobs. However, more needs to be done to reverse the trend of declining employment.
