Bulgaria's Average Monthly Wage Lowest in EU, Balkan Countries

Domestic | October 26, 2016, Wednesday // 22:06|  views

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Bulgaria ranks last in terms of income not only among EU member-states but also in the region, showed a survey of the Confederation of Independent Syndicates in Bulgaria (KNSB).

The nominal amount of the average monthly wage in Bulgaria of EUR 420 is about 5.5 times lower than the average levels for the EU, where it is EUR 2,293.

The monthly wage in the country is 12 times lower than that in Switzerland and about 6.2 times lower than the monthly wage in Germany.

The monthly wage in Bulgaria lags significantly behind monthly wages in Balkan countries.

Despite the fact that monthly wages in Romania were cut significantly over the last few years, the monthly wage there in 2014 is 21.9% higher than that in Bulgaria.

In Macedonia, the monthly wage is 16.6% higher and in Serbia – 35% higher.

 

During the first 6 months of 2016, moderate increases were recorded with respect to both the average monthly wage and the number of employed people.   But, still, the rate of increase of the average monthly wage is completely insufficient in order for the population to feel a tangible improvement of the labour market and living standards.

The labour market is experiencing a severe lack of qualified labour, while the discrepancy between the requirements of businesses and the skills of workers continues to deepen.


Tags: monthly wage, KNSB, macedonia, Serbia, Balkan, Romania

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