Unemployment among young Bulgarians reaches 40%

Youth unemployment in Bulgaria surpasses 30% and together with discouraged persons the figure overshoots 40%, said Dimitar Brankov, deputy chairman of the Bulgarian Chamber of Industry.

True unemployment among able bodied Bulgarians exceeds 18%. Within the EU Bulgaria takes top position as to the individual expense for labor and the increase of the efficient currency ratio, both factors defining the loss of competitiveness, Brankov further informs.

Furthermore, Bulgaria stands last in the EU for the implementation of flexible forms of employment. In the EU reduced time employment in 2011 is calculated at 19.5%, while in Bulgaria the figure is just 2.4%.

Adapted from Bulgarian National Radio