Podcast in English
Text size
Bulgarian National Radio © 2024 All Rights Reserved

Analysts warn of stagnation on the Bulgarian labor market

Photo: library

The state of the Bulgarian labor market at the end of 2023 points to a tendency towards stagnation. This is the conclusion of an analysis of the Institute for Market Economy. 

As of mid-2021, the unemployment rate remains in the 4-5.5% range, which is lower even compared to the pre-pandemic period. Those who are employable have found jobs, while those who had been unsuccessful have moved into the inactive group. They either have inadequate education and skills, or are in regions where demand for workers is low. Against this backdrop, the demand for workers has also been decreasing, according to data from the first months of 2024. 

Shrinking competition for workers potentially reduces pressure on employers to raise wages, and the slowdown in employment growth, in turn, threatens the economy's growth potential, analysts said.



Последвайте ни и в Google News Showcase, за да научите най-важното от деня!
Listen to the daily news from Bulgaria presented in "Bulgaria Today" podcast, available in Spotify.

More from category

The Institute for Market Economics calls for budget deficit below 3%

We are moving towards the option of not having a quickly adopted budget for 2025, Lachezar Bogdanov, chief economist from the Institute for Market Economics, told BNR.  In presenting the institute's alternative state budget, the..

published on 11/4/24 11:27 AM

The five largest Indian IT companies already have offices in Bulgaria

Bulgaria and India will intensify their cooperation in various sectors of mutual interest. This was discussed at a meeting of the Bulgarian Minister of Economy Petko Nikolov with Ambassador of India to Bulgaria H.E. Sanjay Rana. The two focused..

published on 10/31/24 5:48 PM

A Bulgarian-Czech Chamber of Commerce established in Sofia

On October 31, 2024, 10 business leaders in Bulgaria founded the first Bulgarian-Czech Chamber of Commerce in the country. At the Embassy of the Czech Republic in Sofia, in the presence of Martin Dvořák, Minister of European Affairs of the Czech..

published on 10/31/24 1:54 PM