Balkans | The unemployment rate in Bulgaria decreased by 4.2% in 2022

Home » Balkans | The unemployment rate in Bulgaria decreased by 4.2% in 2022
Balkans |  The unemployment rate in Bulgaria decreased by 4.2% in 2022

The Bulgarian Employment Agency announced that the unemployment rate fell to a record low of 4.2% in 2022. More than 20,000 employers have posted advertisements for vacancies in employment agencies.

“The most successful year for job seekers is coming to an end,” said Georgy Pervanov, member of the board of directors of the Bulgarian Federation of Human Resources Management and member of the board of directors of the Bulgarian Employment Federation, who was a guest on the “Bulgaria Sabah” program broadcast on the Bulgarian TV channel ON AIR. Lowest unemployment rate and largest wage increase since the start of the pandemic. We have survey results showing that companies that plan to review headcount downwards, but still plan to retain or increase headcount, are doubling.”

Bervanov expects the unemployment rate to rise to 6-7% in March-April 2023.

We don’t expect a large number of layoffs or company bankruptcies. How the war in Ukraine will develop is very important, because it will affect the situation both in Bulgaria and in the European Union. There is no wave of layoffs, quite the opposite. Now, there is a high demand for workers in the tourism sector in the winter period and there is a shortage again. There will be an increase in labor imports in 2023, which is already a reality. We have to get used to the fact that we will see people of all colors and nationalities all over Bulgaria.

According to his statement, this job has its pros and cons.

Member of the Board of Directors of the Bulgarian Employment Federation, “We also expect a wave of return from Bulgarian citizens abroad. This was one of our goals that we worked very actively on this year. There is definitely a trend back, and not just isolated cases. The wave of Ukrainian refugees passed and a few of them started working. We are having conversations with the first Russian refugees. There has not been a wave yet, but if the conflict continues for a longer period, I expect many Russians will head to Bulgaria,” he said, stressing that the need for doctors, nurses and teachers is very high.

“For the first time in years, we have seen a demand for personnel in the IT sector,” said Pervanov. “There were layoffs in the financial sphere and the demand is not great there either. Currently, the main target group is low-skilled workers, workers, operators and warehouse workers with a deficit in total supply. Activities related to accounting will be automated,” he added.

Expressing that the salary increase next year will be less than the current year, the expert said, “I do not expect it to exceed 10 percent, but it will not exceed the usual 5-6 percent.” “Unfortunately, the wage increase did not keep pace with inflation,” he said.

Source: CardZhalNews

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