29.03.2022

THE LABOR MARKET IS RECOVERING

The main results of the labor force survey in 2021 show that the labor market is recovering from the adverse effects of the 2020 pandemic.

In 2021, the economic activity of the population aged 15-64 decreased slightly (by 0.1 percentage points) and the ratio reached 72.0%, while for men it remained significantly higher (76.2%) compared to that of women (67.7%). Employment increased by 0.5 percentage points to 68.1%, but still fails to offset the decline in 2020.

The most tangible positive development in the labor market is seen in the unemployment data. The unemployment rate of the population aged 15-64 decreases sharply by 0.8 percentage points and in 2021 it is 5.3%. Unemployment remains higher in rural areas, among young people and among the lowest educated. The highest values ​​continue to be reported in the districts of Montana and Vidin, but even there the decline in unemployment is significant. Unemployment data for people with previous employment show that the share of those laid off and laid off is falling significantly.

Against the background of rising employment and declining unemployment, the main problems in the labor market are beginning to stand out again - structural unemployment and the mismatch of skills and skills of the workforce (more - here) and the large number of inactive people and people who do not work or study (more - here).