Unemployment rate continues to fall and reaches 7.5% in Aug’20

16.09.2020 Source: Employment agency; FFBH

Bulgaria’s number of unemployed fell 4.9% MoM to 245 774 in Aug’20 (+29.8% YoY). During the month unemployment rate reached 7.5%, which was 0.4 p.p. down MoM, but still 2.2 p.p. up YoY. 24k people registered as unemployed in Aug’20. A total of 23.5k people started working in Aug’2. In fact the number of employed people during the month was only 515 less than the newly registered unemployed, which is a record as for August in the last 4 years newly registered unemployed outnumbered the employed significantly. For instance last year, the number of people who registered at the bureau was over 7k more than those who started a job. Most of the people, who started working in August were employed in manufacturing (20.2%), hotels and restaurants (14.1%), and retail (13.9%) etc.