Youth Unemployment Rises in Bulgaria

According to a report, released by Eurostat, Bulgaria's unemployment rate in December 2023 remained static at 4.3%, a marginal increase from the 4% reported in December 2022. Approximately 130,000 people were registered as unemployed during the period.

Comparatively, Bulgaria's youth unemployment rate among individuals under 25 rose to 12.5%, with 15,000 people affected in December 2023, marking a slight uptick from the 12.2% recorded the previous month. This stands in contrast to the 9.2% youth unemployment rate reported in December 2022.

The unemployment landscape in the European Union (EU) mirrored Bulgaria's stability, maintaining an unchanged rate of 5.9% in December 2023, consistent with the previous month. However, there has been a slight increase compared to December 2022, when the EU's unemployment rate stood at 6.1%.

Zooming into the Euro area, the unemployment rate remained constant at 6.4% in December 2023, showing a decline from the 6.7% reported in the same month of the previous year, suggesting a positive trend.

While Bulgaria's unemployment figures indicate a certain resilience, the youth unemployment uptick raises concerns about the challenges faced by the younger workforce in the country. This data aligns with broader European trends, where stability characterizes overall unemployment rates.

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