The unemployment in Bulgaria continues to decline in February on a monthly basis, reaching a level of 5.3%. This is the lowest unemployment rate since November 2008, according to Eurostat’s current seasonally adjusted data released on Wednesday.
On an annual basis, there was an even more serious decline, with the rate of 6.2% in February 2017 or 1.2 percentage points higher. The unemployed in Bulgaria in the second month of the year were a total of 183,000 people, or 5,000 less than in January this year.
The level of youth unemployment in the country is also declining even though it remains high. In January, it reached 10.5%, which was 0.1 percentage points less than the first month of the year. On a year-on-year basis, the decline was much more pronounced and in February 2017 it was 2.7 percentage points higher – 13.2%. A total of 18,000 young people under the age of 25 were unemployed in the eighth month of the year.
The unemployment in the European Union (EU) as a whole also dropped slightly in February on a monthly basis to a level of 7.1%. As for the Eurozone, the unemployment also declined slightly in February, compared to January 2018, at 8.5%.