13.10.2022
WHICH SECTORS ARE LOOKING FOR WORKERS?
Bulgarian employers will significantly slow down the pace of hiring new employees in the period October 2022 - March 2023. According to the third forecast survey of the Bulgarian Employment Confederation, 14% of the surveyed 1100 companies in five regions of the country plan to reduce the workforce in the next six months compared to 6% in the same period last year.
In addition, 43% forecast headcount increases and the same number of employers across twelve industry sectors will maintain headcount. Thus, the net employment rate — the difference between employers who plan to reduce the workforce and those who forecast to increase it — is +29%, or a drop of 11% compared to the previous study period.
"The results of the study illustrate the alarming situation not only in Bulgaria, but also in the whole world. Rampant inflation and ever-rising prices may push wages up, but they won't catch up to the rapid depreciation of money. Therefore, many employers have already taken measures to seriously limit their expenses, including in the form of layoffs and freezing of new appointments," commented Nadya Vasileva, president of the Bulgarian Employment Confederation.
"Not to be overlooked is the fact that for the first time since the survey began, the percentage of employers who are unsure whether to hire or lay off employees is zero." Economic uncertainty doesn't give them a reason to plan to expand their teams, but now is also the time to consider what talent they will need after the storm passes,” she added.
Employers across the twelve industries surveyed shared positive but modest hiring plans. The most optimistic forecasts for the next six months again have employers from the sectors "Information Technology" (+30%), "Outsourcing" (+13%) and "Manufacturing" (+10%), although all three registered a significant decrease from 19%, 18% and 14%.
In the "Wholesale and retail trade" and "Transport, warehousing and communications" sectors, the employment rate was +10% and +8% — growth of 5% and 3%, respectively, compared to the last six months. An increase of between one and two percentage points was also observed in the sectors "Hotel and restaurant industry" (+5%), "Construction" (+4%), "Electricity, gas and water" (+4%) and "Agriculture, forestry and fishery" (+4%).
"If until recently many employees enjoyed the luxury of choosing between different job opportunities, today everyone feels the scourge of inflation and their worries keep growing. That is why many of them will prefer to stay at their current workplace, while others will look for a living in the big cities of the country," added Nadya Vasileva.
In Sofia, 70% of surveyed employers predict a growth in the workforce - eight percentage points less compared to the previous six months. In Plovdiv, the employment rate remains unchanged, with 8% of employers planning to increase their staff. The forecast of employers from the Varna region registered a growth of four percentage points, reaching an employment rate of +10%.
Job seekers will also be able to find opportunities for realization in Burgas and Ruse, where employers' forecasts increase by two percentage points and reach +7% and +5% respectively for the period October 2022 - March 2023.
