Bulgaria recorded the lowest unemployment rate in the European Union in May, with just 2.9% of the labor force out of work, according to the latest figures released by the European Statistical Office. The result placed Bulgaria ahead of every other EU member state, while unemployment across the broader eurozone remained unchanged at 6.2% and the overall EU rate held steady at 5.9%.
Eurostat’s data show that a total of 13.163 million people were unemployed across the European Union in May, including 10.986 million in countries using the euro. Compared with April, the number of unemployed fell by 40,000 across the EU and by 55,000 in the euro area. On an annual basis, the labor market also improved, with 82,000 fewer unemployed people across the EU and a decline of 158,000 in the eurozone.
Bulgaria topped the EU ranking with its 2.9% unemployment rate. It was followed by the Czech Republic and Malta, while Spain and Finland continued to report the highest unemployment levels among member states.
“Bulgaria registered the lowest unemployment rate in the European Union,” the latest statistics indicate.
Youth unemployment showed a mixed picture. Across the EU, the rate for people under the age of 25 edged up to 15.2% in May from 15.1% a month earlier. In the eurozone, however, youth unemployment remained unchanged at 14.7%. Overall, there were 2.918 million unemployed young people across the EU, including 2.313 million living in euro area countries.
The data also revealed differences between men and women in the labor market. Women’s unemployment across the European Union remained stable at 6.2%, while the rate for men declined slightly to 5.7% from 5.8% in April. Within the eurozone, unemployment among women eased to 6.4%, while the rate for men stood at 6.0%, reflecting a modest improvement compared with the previous month. (Novinite)