Bulgaria's unemployment rate edges down to 11.3% in December 2013

By bne IntelliNews January 14, 2014

The unemployment rate in Bulgaria edged down 0.2pps m/m to 11.3% in December 2013, the state labour agency said. The jobless rate was 0.1pps lower than in the same month of 2012. 

The annual average unemployment rate for 2013 was also 11.3%, up by 0.2pps from the previous year. In figures, the number of people without a job increased by 6,843.

One fifth of the unemployed were under 29 years of age and a third of all job-seekers were unemployed for more than a year. More than half (55%) of those looking for an employment had no classification at all and 30% had elementary or lower education.

The labour agency's measurement of unemployment accounts only for the registered unemployed. We note that the data is not seasonally-adjusted and usually underestimates the jobless rate because people without a job tend to keep their registration with the agency only for the period during which they receive unemployment benefits.

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