Over half of employers in Bulgaria have no plans to hire new staff in the next six months, according to recent findings from the Bulgarian Employment Confederation (BEC). The survey, conducted among 1,197 companies, covers the period from October to March of next year.
The data show that 32% of respondents anticipate no change in their workforce size, while 24% expect to increase their staffing levels. Meanwhile, 20% of companies plan to reduce staff and another 24% remain uncertain about their hiring plans for the period between October 2024 and March 2025.
“The difference between employers intending to reduce and those planning to increase their workforce is +4%, which is a drop of 12% compared to the last six months and a decline of 6% from the same period in 2023,” the BEC commented.
Seven out of twelve sectors show weaker hiring prospects for the upcoming half-year. The biggest declines are seen in the “Information Technology” and “Wholesale and Retail Trade” sectors. The BEC also highlights the concerning drop of two %age points in the “Manufacturing” sector, which employs over 500,000 people.
Conversely, employers in four sectors express more positive hiring intentions than in the previous period. Notable increases are observed in the “Transport, Warehousing and Communications” and “Construction” sectors, with net employment rates of +14% and +12%, respectively. This is followed by the “Public and Social Sector” and “Electricity, Gas and Water” sectors, reporting net rates of +7% and +3%.
The “Outsourcing” sector’s forecast drops by 1%, with a net rate of +12%. In the “Extractive Industry” sector, the employment rate remains unchanged at -1%, while the “Agriculture, Forestry and Fisheries” sector sees a decline of 2%, according to BEC data.
Regionally, only employers in Sofia and Ruse show an increase in hiring intentions, with net employment rates of +74% and +2% respectively.
BEC Chairperson Nadia Vasileva noted that the survey was conducted over the past month. (Novinite)