According to the latest figures of Eurostat released on Friday, Bulgaria registered the second largest decrease in its unemployment rate in March 2016 preceded only by Cyprus.
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Compared to the same month in 2015, the unemployment rate in Bulgaria in March decreased from 10 % to 7.3 %. Compared to the previous month, the unemployment rated dropped by 0.1 %.
A total of 244 000 Bulgarians were unemployed in March, which represented a decrease of some 91 000 people compared to the same month last year.
Bulgaria’s unemployment rate was below the EU average which stood at 8.8 % in March. This was the lowest unemployment registered in the EU since April 2009.
The EU’s unemployment rate decreased by 0.9 % compared to March 2015 and dropped by 0.1 % compared to February 2016. A total of 21 419 000 Europeans were unemployed in March.
The lowest unemployment rate was registered in the Czech Republic (4.1 %), followed by Germany, while the highest was recored in Greece (24.4 % the figures from January), followed by Spain.
Compared with March 2015, the unemployment rate decreased in all 28 member states of the EU, except Austria, Latvia and Finland where it registered slight growth.
Bulgaria’s youth unemployment rate of people aged under 25 was also below the EU average. Compared to March 2015, it dropped from 22.3 % to 18.5 %, retaining its level from February 2016.
A total of 30 000 Bulgarian youth were unemployed in March, which represented a drop by 13 000 people compared to the same month last year.
In the EU, the youth unemployment rate dropped from 20.9 % to 19.1 %. A total of 4 287 000 European youth were unemployed in March.
The lowest youth unemployment rate was registered in Germany, followed by the Czech Republic and Malta, while the highest was recorded in Greece, followed by Spain, Croatia and Italy.
In Bulgaria, unemployment continued to be higher among men than women. In March, 7.5 % of Bulgarian men and 7.1 % of Bulgarian women were unemployed.
The opposite trend is visible in the EU, where 8.6 % of European men and 9 % of European women were unemployed in March.
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