„The labor market looks quite different compared to a few years ago . If we had to describe it in one word, it would be stagnation, unfortunately.“
This was commented in the Euronews Primetime studio by Adrian Nikolov, an expert from the Institute for Market Economics (IMI).
By the end of 2023, we have very low unemployment, very high employment, but also very low labor demand already.
„From mid-2023 to today in practice, we see a steady decline in the number of new job registrations, meaning that businesses are no longer looking as much to expand by adding new employment. Let's hope that this will lead to more investments in existing businesses, but this reflects a very clear understanding that, to a large extent, the potential for labor market expansion in Bulgaria has been exhausted, Nikolov also said.
He noted that in the past year there was a 10% drop in the number of jobs offered in the ICT sector.