Unemployment in Bulgaria hits new low, 5% in May 2018

Unemployment in Bulgaria hits new low, 5% in May 2018

Unemployment in Bulgaria hit another new low in May 2018, at five per cent, well below the EU average and down from 6.2 per cent in May 2017.

Figures released by EU statistics agency Eurostat on July 2 said that in May 2017, about 210 000 people in Bulgaria were unemployed. In May 2018, this fell to 160 000 people.

According to Eurostat, youth unemployment in Bulgaria in May 2018 was 11.2 per cent, down from 14 per cent in May 2017.

The euro area (EA19) seasonally-adjusted unemployment rate was 8.4 per cent in May 2018, stable compared with April 2018 and down from 9.2 per cent in May 2017. This remains the lowest rate recorded in the euro area since December 2008.

The EU28 unemployment rate was seven per cent in May 2018, stable compared with April 2018 and down from 7.7 per cent in May 2017. This is the lowest rate recorded in the EU28 since August 2008.

Eurostat estimates that 17.207 million men and women in the EU28, of whom 13.656 million in the euro area, were unemployed in May 2018. Compared with April 2018, the number of people unemployed decreased by 154 000 in the EU28 and by 125 000 in the euro area.

Compared with May 2017, unemployment fell by 1.828 million in the EU28 and by 1.252 million in the euro area.

Among EU countries, the lowest unemployment rates in May 2018 were recorded in the Czech Republic (2.3 per cent) and Germany (3.4 per cent). The highest unemployment rates were observed in Greece (20.1 per cent in March 2018) and Spain (15.8 per cent).

Compared with a year ago, the unemployment rate fell in all EU countries.

The largest decreases were registered in Cyprus (from 11.4 per cent to 8.4 per cent), Croatia (from 11.3 per cent to 8.9 per cent), Greece (from 22.1 per cent to 20.1 per cent between March 2017 and March 2018) and Portugal (from 9.2 per cent to 7.3 per cent).

In May 2018, 3.377 million young people (under 25) were unemployed in the EU28, of whom 2.390 million were in the euro area.

Compared with May 2017, youth unemployment decreased by 519 000 in the EU28 and by 353 000 in the euro area.

In May 2018, the youth unemployment rate was 15.1 per cent in the EU28 and 16.8 per cent in the euro area, compared with 17.2 per cent and 19.3 per cent respectively in May 2017.

In May 2018, the lowest rates of youth unemployment were observed in Malta (4.8 per cent), Germany (6.1 per cent), Estonia (6.8 per cent in April 2018) and the Netherlands (6.9 per cent), while the highest were recorded in Greece (43.2 per cent in March 2018), Spain (33.8 per cent) and Italy (31.9 per cent).... / ΙΒΝΑ

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