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Bulgaria's Unemployment in August Hits Lowest Level of 7.7% Since October 2009

Monday, Oct 03, 2016

Unemployment in the 28 member-states of the EU stabilised for the fourth consecutive month at a 7-year low of 8.6%, while unemployment in Bulgaria hit its lowest level since October 2009, reaching 7.7%, showed Eurostat data.

Unemployment in the EU in August remained at 8.6%, same as in July and lower than the 9.3% registered in August 2015. At the same time, unemployment in the Euro Zone also stabilised for the fourth consecutive month at 10.1% (the lowest level since July 2011), compared to 10.7% a year ago.

According to Eurostat, unemployment in Bulgaria in August decreased to 7.7% from 7.9% in July and is much lower than the 8.8% in August 2015. Unemployment in the country hit its lowest level since October 2009 (7.6%)

A total of 255,000 Bulgarians were out of a job in August 2016, compared to 259,000 a month earlier, reported Eurostat. This is a permanent decrease in unemployment below the psychological level of 300,000 for the 12th consecutive month.

In August, youth unemployment rose to 14.8% from 14.7% but it is much lower than the 21.3% registered in August 2015. In August 2016, 24,000 youths under the age of 25 were out of a job, compared to 24,000 a month ago and 39,000 in August 2015.

Source: www.novinite.com