The results of the latest ManpowerGroup Employment Survey show that 11% of 621 employers surveyed in Bulgaria expect to increase employment levels in the next three months, 5% predict a reduction in staffing and 4% are uncertain about their plans for employment until 80% are considering changing their current workforce between October and December. After the seasonal variations are removed from the data, the net employment forecast 1 is + 7%.
Rental intentions remained unchanged from the previous quarter and decreased by one percentage point on an annual basis.
“Employers in Bulgaria share cautious optimism about the labor market in the fourth quarter of 2019. Their modest hiring intentions reflect slow economic growth, as well as the highly anticipated results of the upcoming elections,” commented Aleksandar Hangimana, Managing Director . “On the other hand, 11% of employers in the country plan to increase their workforce over the next three months, and this positive trend applies to all five regions and to almost every industrial sector.
However, the demand for both high-skilled and low-skilled employees exceeds supply and we see the fight for specific talent increasing in a number of sectors every day. ”
Between October and December, an increase in staff is foreseen in all five regions. For the second consecutive quarter Varna expects the strongest labor market with a net employment forecast of + 12%. Employers in Plovdiv and Sofia are planning a significant job increase with an estimate of + 8% and a forecast for Burgas is + 5%.
Unlike in the previous quarter, jobseekers in Rousse can expect a favourable hiring climate, since the employers’ forecast registers the largest increase on a quarterly basis and reaches + 4%.
Recent figures also reveal that employers in eight of the ten industrial sectors, plan to increase employment by the end of the year. For the second consecutive quarter, the Finance, Insurance, Real Estate and Business Services sector expects the strongest hiring rate with a + 14% forecast. Both the Manufacturing and Transport, Warehousing and Communication sectors have a + 10% forecast.
At the same time, the forecast in three sectors – Electricity, Gas and Water, Public and Social Sector and Wholesale and Retail is + 8%, while the Mining and Hotel and Restaurant Sectors are waiting labor market.
Employment expectations are significantly higher than in the previous quarter in the Agriculture, Forestry, Hunting and Fisheries and Construction sectors by 7 and 6 percentage points respectively. Manufacturing posted a three-percentage-point increase on a quarterly basis, while hiring plans in the Wholesale and Retail sector improved by 4 percentage points.
Compared to the fourth quarter of 2018, employment prospects are increasing in six of the ten industrial sectors.
Between October and December, employment rates are expected to increase across all four organizations in size. For the second consecutive quarter, employers from large enterprises (250+ employees) report the most active labor market with a forecast of + 20%. Employer recruitment intentions from small businesses (10-49 employees) improved by one percentage point compared to the previous quarter and a + 7% forecast, while medium-sized employers (50-249 employees) reported a + 6% forecast.
On a quarterly basis, micro-enterprise employers (less than 10 employees) report the most significant improvement of five percentage points and an estimate of + 6%.