ILO unemployment rate in Bulgaria confirmed at 11.4% in Q4 2011 stats office.

By bne IntelliNews February 22, 2012
The rate of unemployment measured by the ILO and Eurostat methodologies rose by 0.2pps y/y and 1.2pps q/q to a period average of 11.4% in Q4 thus confirming preliminary results released at the beginning of February, according to a survey run by the statistical office. The number of the discouraged workers fell by 0.5% y/y, after growing in the previous quarters, to nearly 60% of the total (unchanged as compared to a year earlier) and the total jobless number went down by 0.4% in annual terms to 380,900. The long-term unemployment rate went up by 0.5pps in a year and by 0.2pps q/q to 6.4% in Q4. The employment rate in the age group from 20 to 64 years reached 64.1% in Q4, down by 0.6pps in annual terms and far from the target of 75% set in the Europe 2020 strategy. We remind that the average unemployment rate calculated on the basis of the registrations with the labour office and released earlier reached 10% in Q4. According to latest data of the state labour agency, the unemployment rate, measured in terms of registrations at the labour agency, reached 11.1% at the end of January and an average of 10.1% in 2011.

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