Bulgaria's Labor Market Struggles Amid Record Demand and Limited Workforce

Labor supply in Bulgaria remains exceptionally constrained amid record-high demand, making it increasingly challenging to tap into the limited available workforce, according to recent Eurostat data analyzed by the Institute for Market Economy. The report offers insight into the labor market slack across EU countries in 2023, extending its scope to include people aged 15-74, rather than just the 15-64 range, reflecting the growing importance of older individuals in the workforce amid a declining labor supply.

The labor reserve metric is comprehensive, encompassing not only the unemployed but also the inactive willing to work and part-time workers, representing the full potential for labor market growth....