Bulgaria's Youth Unemployment on the Ebb

The number of unemployed Bulgarians under 29 years of age fell by almost 7,000 since the beginning of 2014, but still remains high - more than 68,000 people countrywide.

In the first months of 2014, about 5,450 young people have found a job or an internship through subsidized employment, while 15,000 were employed in the real sector, Dnevnik reports.

Bulgaria receives EUR 110M from the European Commission for increasing youth employment, Deputy Minister of Labor and Social Policy Svetlana Dyankova confirmed.

The state subsidy amounts to BGN 23.5M, thus the total funding for training and subsidized employment of young people over the next two years will be BGN 240M.

The implementation of the European Youth Guarantee will be monitored jointly by the Social, the Educational, the Sports and the Economic ministries, Dyankova said.

Meanwhile, experts from the Bulgarian Academy of Sciences (BAS) expect that in 2014 the unemployment in the country will stop rising, and might even decrease.

The annual report of the BAS on unemployment and inequality trends in Bulgaria found that the employment rate would rise very slightly in 2014 and will entirely depend on the growth of the GDP.

In the next two years experts expect the creation of 100 000 new jobs – around one quarter of the jobs lost during the economic downturn.

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