Sat, Nov 21 2009

Bulgaria unemployment rate reaches 8.23% in October

Fri, Nov 06 2009 14:20 CET byPetar Kostadinov 1132 Views
Bulgaria unemployment rate reaches 8.23% in October

Photo: Георги Кожухаров

Bulgaria's unemployment rate reached 8.23 per cent in October, 0.2 percentage points more than the previous month, private channel bTV quoted Labour and Social Policy Minister Totyo Mladenov as saying on November 6 2009.

The actual increase of unemployed Bulgarians in November was about 7000 people more, according to ministry data cited by Mladenov.

The Ministry expects unemployment rate to reach between 9.2 per cent and 9.3 per cent at the end of the year, which was close to the average level of unemployment for the rest of the European Union.

In October, companies filed fewer notifications for mass redundancies with the state Employment Agency, the agency head Rossitsa Stelyanova said. The agency has received notifications by 30 companies, which said they were dismissing about 2500 people.

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Sliding property prices, coupled with mounting unemployment and tepid lending growth, will batter the Bulgarian economy

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