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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, September 10th, 2019 – The results of the most recent ManpowerGroup Employment Outlook Survey reveal that 11% of 621 surveyed employers in Bulgaria expect to increase staffing levels in the three months ahead, 5% forecast a decrease in headcount and 4% are unsure about their hiring plans, while 80% are not considering any changes to their current workforce in the October-December period. Once seasonal variations are removed from the data, the Net Employment Outlook1 is +7%. Hiring intentions are unchanged when compared with the previous quarter and decrease by one percentage point year-over-year.

Employers in Bulgaria are cautiously optimistic about the labor market in the fourth quarter of 2019. Their modest hiring intentions are reflective of the slowing economic growth rate, as well as the much-expected results of the forthcoming elections,” commented Aleksandar Hangimana, Managing Director, ManpowerGroup Balkans. “On the other hand, 11% of employers in the country plan to strengthen their workforce in the three months to come and this positive trend holds true for all five regions and in almost every industry sector. Nevertheless, the demand for both white- and blue-collar employees continues to exceed the supply and we see how the fight for specific talent in a number of sectors increases every day.”

Payrolls are forecast to grow in all five regions in the October-December timeframe. Varna anticipates the strongest labor market for the second consecutive quarter with a Net Employment Outlook of +12%. Plovdiv and Sofia employers report respectable workforce gains with an outlook of +8%, and the outlook for Burgas is +5%. Unlike the previous quarter, job-seekers in Rousse can expect a favorable hiring climate as employers’ outlook shows the biggest quarter-over-quarter increase and stands at +4%.

MANPOWERGROUP NET EMPLOYMENT OUTLOOK

Q4 18

Q3 19

Q4 19

NATIONAL TOTAL: BULGARIA

+8%

+7%

+7%

BURGAS

+9%

+5%

+5%

PLOVDIV

+6%

+6%

+8%

ROUSSE

+11%

+0%

+4%

SOFIA

+7%

+8%

+8%

VARNA

+16%

+12%

+12%

The latest data also reveals that employers in eight of ten industries forecast increased payrolls through the end of the year. The Finance, Insurance, Real Estate & Business Services sector anticipates the strongest hiring climate for the second quarter in a row with an Outlook of +14%. An Outlook of +10% is reported for both the Manufacturing sector and the Transport, Storage & Communications sector. Elsewhere, Outlooks stand at +8% in three sectors – Electricity, Gas & Water Supply, Public & Social and Wholesale & Retail trade, while flat labor markets are expected in the Mining & Quarrying and Restaurants & Hotels sectors.

Compared to the previous quarter, employment expectations significantly increase in the Agriculture, Hunting, Forestry & Fishing and Construction sectors by 7 and 6 percentage points respectively. The Manufacturing sector reports an increase of three percentage points quarter-over-quarter, while hiring plans in the Wholesale & Retails Trade sector improve by 4 percentage points. In comparison with the fourth quarter of 2018 hiring prospects strengthen in six of the ten industry sectors.

MANPOWERGROUP NET EMPLOYMENT OUTLOOK

Q4_18

Q3_19

Q4_19

NATIONAL TOTAL: BULGARIA

+8%

+7%

+7%

AGRICULTURE, HUNTING, FORESTRY & FISHING

+10%

+4%%

+11%

CONSTRUCTION

+3%

+7%

+13%

ELECTRICITY, GAS & WATER SUPPLY

+6%

+11%

+8%

FINANCE, INSURANCE, REAL ESTATE & BUSINESS SERVICES

+11%

+16%

+14%

MANUFACTURING

+20%

+7%

+10%

MINING & QUARRYING

+6%

-2%

0%

PUBLIC & SOCIAL

+3%

+6%

+8%

RESTAURANTS & HOTELS

+5%

0%

0%

TRANSPORT, STORAGE & COMMUNICATION

+8%

+10%

+10%

WHOLESALE & RETAIL TRADE

+13%

+4%

+8%

Staffing levels are expected to increase in all four organization size categories during the October-December period. For the second consecutive quarter Large employers (250+ employees) report the most active labor market with an Outlook of +20%. Hiring intentions of Small-size employers (10-49 employees) improve by one percentage point compared to the previous quarter with an outlook of +7%, and an outlook of +6% is reported by the Medium-size (50-249 employees). Quarter-over-quarter, Micro employers (less than 10 employees) report the most significant improvement of five percentage points and an outlook of +6%.

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

1 The 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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