Unemployment Drops Below Previous Record

According to Eurostat, unemployment in Bulgaria in February of this year has dropped by 6.5% compared with the same month last year. This means that currently, the unemployment is at 5.3%. 

This trend is not exclusive to Bulgaria. Unemployment is getting lower all over the EU. In February of 2017, it was 8% for the Union, one year later it is 7.1%. This is the lowest unemployment percentage registered in the EU-28 since 2008. Among the EU-states, the Czech Republic is the leader with 2.4% unemployment, Germany and Malta are at 3.5%, and Hungary is just behind them with 3.7%. At the same time, the countries with the highest rates of unemployment are Greece (20.8%) and Spain (16.1%). 

Almost all EU-countries have marked a drop in unemployment. However, Estonia has "scored" a rise in the rates of unemployment - from 5.8% to 6.5% within a year. Especially remarkable are the declines in unemployment in the following countries - Cyprus (12.6% to 9.6%), Greece (23.4% to 20.8%) and Croatia (12.0% to 9.6%). Eurostat estimates that 17.6 million people in the EU-28 are currently unemployed and 13.9 million of them are within the Eurozone. 

Vasil Manev

Vasil Manev is a student in Computer Science and an aspiring columnist, studying in Heidelberg, Germany.

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