“Keep them in the job, get them in the job, in every way possible”

“Stop early retirement schemes, reduce unemployment, stimulate part-time employment. Keep them in the job, get them in the job, in every way possible,”

This is what Peer Ederer says in the second volume of the “European Human Capital Index”, that focuses on Central and Eastern Europe and Turkey.

It’s a very interesting and documented analysis regarding the human capital in the region. Including in Romania, where politicians like to say that the human capital is the strongest and the most valuable resourse of our country. A(nother) waisted resource, as you can see.

Among other things, the report strongly criticises Eastern European governments for not investing in people older than 45 years – about one-third of the population, with 20 ore more productive years ahead - thereby creating a “lost generation”. Another one.

The report also presents the demographic situation and the quality of the education systems in the region .
Let’s not forget that an important economic goal of the European Union is to become a knowledge-based economy.
In every aspects, the former communist states, now EU members, should not only to catch up with Western Europe, but also to start compete with them. A goal that may never be reached.

Romania (although one of the biggest state) is somewhere in the middle in the index’ ranking of the region.

The countries that trail the index’ ranking – Slovakia, Bulgaria and Poland – are likely to remain stuck in relative poverty for a very long time when compared to the EU average.

At the other pole, the optimistic one, are: Slovenia, the Czech Republic, Estonia and Lithuania – they might still have a small chance of achieving Western standards of living within the next twenty years.

So, Romania will achieve Western living standard sometime right in between of 20 years and…never. Bad news, very bad news.

Only Turkey, not yet EU member, is the only country with a young and growing population, that might be able to respond to the Europe’s human capital needs. The report states that by 2050, an estimated 19% of the European working population will be Turkish.