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Bulgarian Employers Expect Modest Job Gains to Continue in the Fourth Quarter of 2019 According to ManpowerGroup Employment Outlook Survey

Sofia, Bulgaria, December 10th, 2019Bulgarian employers will enter the new year optimistically as their hiring confidence in the first quarter of 2020 is expected to be positive in all industries and regions in the country. Ten percent of the 623 employers included in ManpowerGroup Outlook Survey plan to hire new staff in the first three months of the year, six percent anticipate a decrease of payrolls and 82 percent forecast no change. Once the data is adjusted to allow for seasonal variation, the Net Employment Outlook1 stands at +7% and remains unchanged in comparison with both the previous quarter and this time one year ago.

Employers’ mood remains positive on the Bulgarian labor market and more companies across all industries and regions are planning to increase rather than reduce their staff levels,” says Aleksandar Hangimana, Managing Director, ManpowerGroup Balkans.“We also notice that companies from various sectors have started to open up to alternative solutions such as the outsourcing of specific tasks in the attempt to tackle with the lack of talent, and this is one of the main reasons for their optimism.”

ManpowerGroup Outlook Survey data reveals that employers in all 10 industry sectors expect to increase payrolls in the January-March timeframe. The strongest hiring pace is forecast for the Mining & Quarrying sector, where the Net Employment Outlook stands at +13% – a significant improvement of 12 percentage points in comparison with both the previous quarter and this time one year ago. Steady workforce gains are also forecast in the Construction sector, where the Outlook is +12%, and in the Manufacturing and the Transport, Storage & Communications sectors where the Outlooks stand at +11%. Finance, Insurance, Real Estate & Business Services sector employers anticipate a soft hiring climate with an Outlook of +9% and the Outlook for the Public & Social sector is +8%. Meanwhile, Agriculture, Hunting, Forestry & Fishing sector employers expect the weakest labor market with a cautious Outlook of +1%.

Hiring intentions weaken in five of the 10 industry sectors when compared with the previous quarter with the Agriculture, Hunting, Forestry & Fishing sector reporting the biggest decrease of 9 percentage points. When compared with the same period last year, hiring plans strengthen in five of the 10 industry sectors, namely Mining & Quarrying, Public & Social, Construction, Transport, Storage & Communications and Manufacturing sectors. However, hiring perspectives weaken in four sectors, including a considerable decline of 20 percentage points for the Finance, Insurance, Real Estate & Business Services sector.

MANPOWERGROUP NET EMPLOYMENT OUTLOOK

Q1_19

Q4_19

Q1_20

NATIONAL TOTAL: BULGARIA

+7%

+7%

+7%

AGRICULTURE, HUNTING, FORESTRY & FISHING

+8%

+10%%

+1%

CONSTRUCTION

+18%

+13%

+12%

ELECTRICITY, GAS & WATER SUPPLY

+5%

+9%

+5%

FINANCE, INSURANCE, REAL ESTATE & BUSINESS SERVICES

+29%

+12%

+9%

MANUFACTURING

+10%

+10%

+11%

MINING & QUARRYING

+1%

+1%

+13%

PUBLIC & SOCIAL

+1%

+8%

+8%

RESTAURANTS & HOTELS

+2%

+3%

+6%

TRANSPORT, STORAGE & COMMUNICATION

+5%

+10%

+11%

WHOLESALE & RETAIL TRADE

+12%

+7%

+5%

In terms of regional hiring intentions, workforce gains are anticipated in all five regions during the January-March timeframe. For the ninth consecutive quarter, the strongest labor market is expected in Varna, where the Net Employment Outlook stands at +13%. A modest increase in payrolls is forecast for Plovdiv and Sofia regions with Outlooks of +8%, and the Outlook for Burgas stands at +7%, while Rousse employers report the weakest hiring intentions with an Outlook of +3%.

MANPOWERGROUP NET EMPLOYMENT OUTLOOK

Q1_19

Q4_19

Q1_20

NATIONAL TOTAL: BULGARIA

+7%

+7%

+7%

BURGAS

+5%

+6%

+7%

PLOVDIV

+7%

+7%

+8%

ROUSSE

+5%

+4%

+3%

SOFIA

+7%

+8%

+8%

VARNA

+9%

+12%

+13%

In addition, employers in all organization size categories forecast an increase in staffing levels during the next three months. Large employers (250+ employees) expect the strongest hiring pace, reporting a Net Employment Outlook of +22% – an increase of 2 percentage points compared to the previous quarter. Medium-size employers (50-249 employees) anticipate moderate hiring activity with an Outlook of +8%, while Outlooks of +7% and +4% are reported in the Small (10-49 employees) and Micro-size (less than 10 employees) categories, respectively.

You can find detailed results from the ManpowerGroup Employment Outlook Survey for all participating countries atwww.manpowergroup.com/workforce-insights/data-driven-workforce-insights/manpowergroup-employment-outlook-survey-results.

1The Net Employment Outlook is derived by taking the percentage of employers anticipating an increase in hiring activity and subtracting from this the percentage of employers expecting a decrease in hiring activity.

About ManpowerGroup

ManpowerGroup® (NYSE: MAN), the leading global workforce solutions company, helps organizations transform in a fast-changing world of work by sourcing, assessing, developing and managing the talent that enables them to win. We develop innovative solutions for hundreds of thousands of organizations every year, providing them with skilled talent while finding meaningful, sustainable employment for millions of people across a wide range of industries and skills. Our expert family of brands – Manpower®, Experis®, Right Management® and ManpowerGroup® Solutions – creates substantially more value for candidates and clients across 80 countries and territories and has done so for over 70 years. In 2019, ManpowerGroup was named one of the World’s Most Ethical Companies for the tenth year and one of Fortune’s Most Admired Companies for the seventeenth year, confirming our position as the most trusted and admired brand in the industry. See how ManpowerGroup is powering the future of work: www.manpowergroup.com

About ManpowerGroup Bulgaria

ManpowerGroup Bulgaria is part of ManpowerGroup® and one of the leaders on the Bulgarian market in contingent and permanent recruitment solutions, staff assessment, RPO and career consulting. With branches in Sofia, Plovdiv, Burgas and Varna, ManpowerGroup Bulgaria has provided organisations in the country with a continuum of staffing solutions for twelve years now, working with businesses from all industry sectors. In the Human Age, where talent has replaced access to capital as the key competitive differentiator, ManpowerGroup Bulgaria leverages its trusted brand to develop a rich talent pool, providing clients with access to the people they need, fast. By creating powerful connections between organisations and talents, we help everybody achieve more than they imagined, and power the world of work: www.manpower.bg

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