The new data, provided by Eurostat, reveals a growing worrying trend in youth unemployment in Bulgaria. In 2023, the percentage of unemployed youth under 25 was 9%, while in 2024 it rose to 16%.
Worldwide and at home
Nowadays, the problem of youth unemployment represents a serious challenge for Bulgaria and other countries in the European Union. Comparative analytics show that Bulgaria is in a group with countries such as Belgium, Denmark, France and Lithuania, where the youth unemployment rate hovers around 16 percent. This high rate is a challenge for both the economy and the social well-being of society as a whole.
Of course, the reasons for this trend are not few, including educational and structural challenges, as well as potential solutions that can be implemented to reduce unemployment and help young people in their job search.
Bulgaria ranks last in European employment statistics for people under 25. According to the latest research by the European Employment Committee, the top performers in this ranking are Spain with over 27%, Estonia with 23% and Greece with over 22%. For reference, Germany stands out with the highest rate – only 5% are not in the labour force.
Comparison with other countries in the European Union provides a context for understanding the effectiveness of different employment policies and programmes. Ultimately, the analysis of this problem can open up new opportunities for development and growth for both young people and the economy as a whole.
According to the latest Eurostat figures, the total unemployment rate in Bulgaria in March 2024 is 4.4%, which equates to 134 000 people. Although this figure may appear lower, it is important to note that youth unemployment is increasing rapidly and represents a significant proportion of the total number of unemployed.
Myth or laziness?
It is possible to question whether youth unemployment is a myth or a reality. The information revealed by recent studies clearly shows that this problem is real and must be addressed as such.
This growth in youth unemployment calls for urgent measures for the country. The issue not only affects economic stability, but also the social well-being of young people.
According to the Employment Agency, as of 16 May 2024, there are 18 577 job vacancies advertised. However, it is important to ensure that these jobs are accessible and suitable for young people by providing the necessary training and support for their successful integration into the labour market.
As a conclusion, we can draw that strategies to stimulate employment and help young people in their job search will be essential to tackle this problem in the coming years, when Bulgaria is so close to joining the Eurozone.
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