Bulgaria: 28% of People of Working Age are out of the Labor Market, Unemployment is 4.9%

Business | May 19, 2022, Thursday // 13:16
Bulgaria: Bulgaria: 28% of People of Working Age are out of the Labor Market, Unemployment is 4.9% @Flickr

4.9% unemployment in Bulgaria is reported by the National Statistical Institute. The level is 1.4% lower than in the first quarter of 2021.

The economic activity rate for the population aged 15-64 is 72%, increasing by 0.6% compared to the first quarter of 2021.

Nearly 28% of people in this age group are economically inactive, with just over a third of them not entering the labor market because they are still studying. Discouraged people aged 15-64 are about 55,300, or 4.5% of the economically inactive in the same age group.

The employment rate for the population aged 15-64 increased by 1.5% compared to the same quarter of 2021 and reached 68.4%.

Of all unemployed persons, 10.6% have higher education, 52.1% - secondary education, and 37.3% - primary or lower education. Unemployment rates by level of education are 1.6% for higher education, 4.6% for secondary education and 16.4% for primary and lower education, respectively.

In the first quarter of 2022, the share of persons with an unemployment rate of less than one year and that of the long-term unemployed (unemployed for one year or more) is almost the same - 49.7% and 50.3%, respectively.

Of the total number of unemployed, 19.2 thousand, or 12.1%, are looking for their first job.

The employment rate for the population aged 15-29 is 36.3%.

The employment rate for the population aged 20-64 is 73.7%.

Employed persons aged 55-64 are 66% of the population in the same age group.

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