Bulgaria’s Labor Market Struggles with Skill Gaps as Job Supply Outpaces Demand
In Bulgaria, the current labor market is facing a situation where job supply exceeds demand, creating challenges for employers
An increasing number of workers are expressing anxiety about job security, according to the latest Global Future Workforce survey conducted by the Adecco Group. This fifth edition of the survey, titled Working Through Change: Adapting to an AI-Driven World of Work, included responses from 35,000 workers across 27 countries and 20 industries.
The survey reveals that the integration of artificial intelligence (AI) into the workplace allows employees to save an average of one hour each day. This extra time enables them to engage in more creative tasks, think strategically, or achieve a better work-life balance. Although the median time saved is one hour, a significant portion of users—20%—reported savings of up to two hours, while 5% noted savings between three and four hours daily.
Time savings varied by sector, with workers in energy, utilities, and cleantech experiencing the highest average savings of 75 minutes per day. Conversely, those in aerospace and defense saved the least, averaging 52 minutes. Workers in the technology sector saved approximately 66 minutes, while those in financial services saved 57 minutes, and manufacturing employees saved 62 minutes daily.
Denis Machuel, CEO of Adecco Group, remarked on the exciting potential of AI to enhance efficiency in the workplace. He highlighted that the time saved is being effectively utilized across various industries, indicating a promising trend towards improved productivity.
Despite the benefits of time savings, there are indications that not all employees are using this extra time productively. While 28% of users reported using the saved time for creative work and 26% for strategic thinking, 23% continued to manage the same workload, and 21% allocated more time to personal activities.
The survey also highlights shifting sentiments in the labor market, as workers increasingly voice concerns about economic conditions and job stability. While a significant number of employees are choosing to remain with their current employers, the effects of AI on job security have been largely underestimated. Thirteen percent of respondents reported losing their jobs due to AI advancements.
Moreover, 40% of workers expressed long-term job security concerns, even as 83% indicated plans to stay with their current employer—the highest percentage recorded in three years. However, the outlook on AI's disruptive impact is more nuanced; 51% of respondents believe that AI skills have broadened their job opportunities, while 46% feel that AI has enhanced their capacity to acquire new skills and advance in their careers.
The research identifies a small but significant group of "future-ready workers"—those who are adaptable, tech-savvy, and proactive in leveraging AI for their benefit. Although they currently make up only 11% of the global workforce, these individuals are exploring AI, seizing new opportunities, and investing their own time in preparation for the future.
Caroline Styr, head of thought leadership research at Adecco Group, noted that these future-ready workers are well-supported by their organizations, receiving personalized development and regular training. In fact, 93% of this group benefits from tailored support from their employers, while 95% participate in training programs.
To foster the growth of this segment, companies need to prioritize the development of their workforce and future leaders. This includes assessing skill relevance, communicating advancement opportunities, creating personalized development plans, and investing in training initiatives. However, there has been a plateau in upskilling within organizations, which could undermine employees' confidence in their employers' commitment to their career advancement. Alarmingly, only 9% of workers remain with their employers in hopes of achieving an advanced qualification.
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In Bulgaria, the current labor market is facing a situation where job supply exceeds demand, creating challenges for employers
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