Bulgaria unemployment in August 2016 was 7.7%, again below EU average

Written by on September 30, 2016 in Business - Comments Off on Bulgaria unemployment in August 2016 was 7.7%, again below EU average

Unemployment in Bulgaria was 7.7 per cent in August 2016, down from 8.8 per cent in August 2015, and again was below the European Union average unemployment of 8.6 per cent, according to seasonally-adjusted figures released on September 30 by EU statistics agency Eurostat.

In August 2015, about 294 000 people in Bulgaria were unemployed. In August 2016, this had decreased to about 255 000.

Bulgaria also has seen a large decrease in youth unemployment in the past year.

In August 2015, youth unemployment – meaning, under-25s – in Bulgaria was 21.3 per cent (about 39 000 people). In August 2016, it was 14.8 per cent – about 24 000 people.

Eurostat said that in August 2016, the seasonally-adjusted unemployment rate in the 19-member euro zone (of which Bulgaria is not a member) was 10.1 per cent. This was stable compared to July 2016 and down from 10.7 per cent in August 2015.

This remains the lowest rate recorded in the euro area since July 2011.

The EU28 unemployment rate was 8.6 per cent in August 2016, stable compared to July 2016 and down from 9.3 per cent in August 2015. This remains the lowest rate recorded in the EU28 since March 2009.

Eurostat estimated that 20.973 million men and women in the EU28, of whom 16.326 million were in the euro area, were unemployed in August 2016.

Compared with July 2016, the number of unemployed people decreased by 40 000 in the EU28, while it increased by 8000 in the euro area.

Compared with August 2015, unemployment fell by 1.587 million in the EU28 and by 875 000 in the euro zone.

Among EU countries, unemployment in August 2016 was lowest in the Czech Republic (3.9 per cent) and Germany (4.2 per cent).

The highest unemployment rates were in Greece (23.4 per cent in June 2016) and Spain (19.5 per cent).

Compared with a year ago, the unemployment rate in August 2016 fell in 24 EU countries, remained stable in Denmark, while it increased in Estonia (from 5.3 per cent to 6.8 per cent between July 2015 and July 2016), Austria (from 5.7 per cent to 6.2 per cent) and Belgium (from 8.0 per cent to 8.2 per cent).

The largest decreases in unemployment were registered in Croatia (from 16.6 per cent to 12.9 per cent) and Cyprus (from 14.7 per cent to 12.1 per cent).

As to youth unemployment, in August 2016, 4.199 million young people were unemployed in the EU28, of whom 2.927 million were in the euro zone.

Compared with August 2015, youth unemployment decreased by 381 000 in the EU28 and by 209 000 in the euro zone.

In August 2016, the youth unemployment rate was 18.6 per cent in the EU28 and 20.7 per cent in the euro area, compared with 20.1 per cent and 22.3 per cent respectively in August 2015.

In August 2016, the lowest rate of youth unemployment was observed in Germany (6.9 per cent), and the highest were recorded in Greece (47.7 per cent in June 2016), Spain (43.2 per cent) and Italy (38.8 per cent), Eurostat said.

(Photo: Mark Puplava/freeimages.com)

/Business

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