Unemployment in Bulgaria decreased to 3.9% in November 2024, down from 4.0% in October and significantly lower than the 4.4% recorded in November 2023, according to Eurostat data. This represents a continuation of positive trends in the Bulgarian labor market, with the total number of unemployed individuals falling to 117,000 in November, compared to 120,000 in October and 134,000 a year earlier.

In the European Union, the unemployment rate stabilized at 5.9% in November for the fourth consecutive month. This trend was mirrored in the eurozone, where unemployment held steady at a record low of 6.3%, a level not seen since 1998, prior to the introduction of the euro. However, signs of rising unemployment in Germany and France, driven by weaker economic conditions, could influence overall eurozone figures in the coming months.

Among EU member states, Spain reported the highest unemployment rate in November at 11.2%, followed by Greece at 9.6%, Finland at 8.7%, and Sweden at 8.5%. Conversely, the Czech Republic maintained the lowest rate at 2.8%, with Poland at 3.0%, and both Malta and Germany at 3.4%.

Across the EU, a total of 12.968 million people were unemployed in November, including 10.819 million in the eurozone. Compared to October, the number of unemployed individuals in the EU decreased by 16,000, while the eurozone saw a drop of 39,000. On an annual basis, unemployment across the EU declined by 295,000 people, and the eurozone experienced a decrease of 333,000.

Youth unemployment in the EU rose slightly in November to 15.3%, up from 15.2% in October, while the eurozone figure remained stable at 15.0%. In Bulgaria, youth unemployment held steady for the second consecutive month at 12.1%, a marked improvement from the 13.6% recorded in November 2023.

Source: Eurostat