Unemployment in Bulgaria, EU continues easing

Written by on March 2, 2015 in Bulgaria - Comments Off on Unemployment in Bulgaria, EU continues easing

Unemployment in Bulgaria is continuing to ease, falling to 10.8 per cent in January 2015 compared to 12.6 per cent a year earlier, going by seasonally-adjusted figures released by European Union statistics office Eurostat on March 2.

The percentage of jobless in Bulgaria in January 2015 represents about 367 000 people. In December 2014, the percentage was 10.9 per cent, or about 368 000 people, according to Eurostat’s figures.

In January 2014, there were 424 000 unemployed people in Bulgaria.

Figures released by Eurostat in January 2015 showed that, according to seasonally-adjusted figures, unemployment in Bulgaria in November 2014 was down from 11.3 per cent in October 2014 and from 12.9 per cent in October 2013.

Bulgaria’s unemployment rate in the fourth quarter of 2014 was 10.6 per cent, down 2.4 percentage points on the fourth quarter of 2013, the National Statistical Institute said on February 16. In Q4 2014, there were 354 500 unemployed people in Bulgaria, the NSI said.

The March 2 Eurostat seasonally-adjusted figures also showed a significant reduction in youth unemployment in Bulgaria on an annual basis.

According to Eurostat, youth unemployment in Bulgaria in January 2015 was 22.6 per cent (about 45 000 people), against 26.6 per cent in January 2014 (55 000).

Eurostat said that in January 2015, the seasonally-adjusted unemployment rate in the 19-member euro zone was 11.2 per cent, down from 11.3 per cent in December 2014 , and from 11.8 per cent in January 2014. This is the lowest rate recorded in the euro zone since April 2012.

Across the 28 member states of the European Union, unemployment was 9.8 per cent in January 2015, down from 9.9 per cent in December 2014 and from 10.6 per cent in January 2014.

Eurostat estimates that 23.815 million men and women in the EU28, of whom 18.059 million were in the euro area, were unemployed in January 2015.

Compared with December 2014, the number of unemployed people decreased by 156 000 in the EU28 and by 140 000 in the euro area. Compared with January 2014, unemployment fell by 1.820 million in the EU28 and by 896 000 in the euro area.

Among EU countries, the lowest unemployment rates in January 2015 were recorded in Germany (4.7 per cent) and Austria (4.8 per cent), and the highest in Greece (25.8 per cent in November 2014) and Spain (23.4 per cent).

Compared with a year ago, the unemployment rate in January 2015 fell in 24 EU member states, remained stable in Belgium and increased in Cyprus (15.7 per cent to 16.1 per cent), Finland (8.4 per cent to 8.8 per cent) and France (10.1 per cent to 10.2 per cent).

The largest decreases were registered in Spain (25.5 per cent to 23.4 per cent), Estonia (8.5 per cent to 6.4 per cent between December 2013 and December 2014), and Ireland (12.1 per cent to 10 per cent).

In January 2015, 4.889 million young people (under 25) were unemployed in the EU28, of whom 3.281 million were in the euro area.

Compared with January 2014, youth unemployment decreased by 562 000 in the EU28 and by 259 000 in the euro area.

In January 2015, the youth unemployment rate was 21.2 per cent in the EU28 and 22.9 per cent in the euro area, compared with 23.3 per cent and 24.3 per cent, respectively, in January 2014.

In January 2015, the lowest rates of youth unemployment were in Germany (7.1 per cent), Austria (8.2 per cent) and Denmark (10.8 per cent), and the highest in Spain (50.9 per cent), Greece (50.6 per cent in November 2014), Croatia (44.1 per cent in the fourth quarter 2014) and Italy (41.2 per cent), Eurostat said.

(Photo: Mark Puplava/freeimages.com)

Comments

comments

About the Author

The Sofia Globe - Bulgaria’s fully independent English-language news and features website, run by an all-expatriate team. Sign up to subscribe to sofiaglobe.com's daily bulletin by using the form on the homepage of our website. Please click to support our advertisers!