Reduction in unemployment in Bulgaria among highest in EU – Eurostat

Written by on July 29, 2016 in Business - Comments Off on Reduction in unemployment in Bulgaria among highest in EU – Eurostat
unemployment employment job jobless photo Mark Puplava freeimages com

Bulgaria recorded the third-largest decrease in unemployment among European Union countries between June 2015 and June 2016, EU statistics office Eurostat said on July 29.

In June 2016, unemployment in Bulgaria was 7.2 per cent, down from 7.3 per cent in May 2016 and from 9.7 per cent in June 2015, Eurostat said.

Bulgaria also saw a huge decrease in youth unemployment, meaning joblessness among the under-25s. In June 2015, youth unemployment in Bulgaria was 22.6 per cent, falling to 13.9 per cent in May 2016 and to 13.8 per cent in June 2016.

Eurostat said that in the 19-member euro zone (of which Bulgaria is not part), the seasonally-adjusted unemployment rate was 10.1 per cent in June 2016, stable compared to May 2016 and down from 11 per cent in June 2015. This remains the lowest rate recorded in the euro area since July 2011.

The EU28 unemployment rate was 8.6 per cent in June 2016, stable compared to May 2016 and down from 9.5 per cent in June 2015. This remains the lowest rate recorded in the EU28 since March 2009.

Eurostat estimated that 20.986 million men and women in the EU28, of whom 16.269 million were in the euro area, were unemployed in June 2016.

Compared with May 2016, the number of unemployed people decreased by 91 000 in the EU28 and by 37 000 in the euro area.

Compared with June 2015, unemployment fell by 2.114 million in the EU28 and by 1.363 million in the euro area.

Among EU countries, the lowest unemployment rates in June 2016 were recorded in Malta (four per cent), the Czech Republic (4.1 per cent) and Germany (4.2 per cent). Unemployment was highest in Greece (23.3 per cent in April 2016) and Spain (19.9 per cent).

Compared with a year ago, the unemployment rate in June 2016 fell in 25 EU countries, remained stable in Belgium and Estonia, while it increased in Austria (from 5.7 per cent to 6.2 per cent). The largest decreases were registered in Cyprus (from 15.1 per cent to 11.7 per cent), Croatia (from 16.2 per cent to 13.2 per cent), Bulgaria (from 9.7 per cent to 7.2 per cent) and Spain (from 22.3 per cent to 19.9 per cent).

As to youth unemployment, in June 2016, 4.194 million young people were unemployed in the EU28, of whom 2.915 million were in the euro zone.

Compared with June 2015, youth unemployment decreased by 492 000 in the EU28 and by 248 000 in the euro area.

In June 2016, the youth unemployment rate was 18.5 per cent in the EU28 and 20.8 per cent in the euro area, compared with 20.6 per cent and 22.5 per cent respectively in June 2015.

In June 2016, the lowest rates of youth unemployment were in Malta (6.9 per cent) and Germany (7.2 per cent), and the highest in Greece (47.4 per cent in April 2016) and Spain (45.8 per cent).

(Photo: Mark Puplava/freeimages.com)

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