Industry Watch: Crisis Reduces Salaries of Half Million Bulgarians

The August unemployment rate in Bulgaria has reached 8,03%. Photo by BGNES

About half a million Bulgarians are receiving lower wages compared to their salaries from six months ago.

The data was revealed through a report of the research department of “Industry Watch” based on data of the agency for marketing and sociological surveys “Vitosha Research.” The poll has been conducted among 1 000 Bulgarian households from all over the country, but does not include data about different sectors of the economy.

The data, however, did not register a reduction in the average salaries despite the economic crisis. The majority of the salaries for mid-level jobs that require certain qualities and skills, but not expert knowledge continue to gravitate around the net BGN 400-600 (after tax and insurance deposits) for the country. Two thirds of the self-employed note a reduction of the orders and their income, including 130 000 individuals, mostly lawyers, advertising agents, designers and consultants.

The report further shows that about 410 000 job positions have closed since the beginning of March until the end of September 2009 while nearly 300 000 new positions have been created. The number of unemployed grew by 10 000 people.

Another report, published by Bulgaria's Employment Agency showed 33 000 people have been registered as unemployed in September with 20% of them coming from the manufacturing industry, nearly 17% from the trade sector and 8% from the construction sector with a total of nearly 300 000 unemployed people in the country.

Economy experts say the businesses have dismissed their workers with low qualifications and skills while nearly half of the new positions have been filled by people 20 to 29 years of age for whom this was their first job

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!