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Bulgaria
- Recruitment landscape
- Economic indicators
- Labor market
- Working life
Your global agency guide to...
Bulgaria
Bulgaria's GDP stands at $101.58 billion, ranking it 69th globally. Major industries include electricity, gas, and automotive parts. With a stable working population, the labor market is sustainable despite a high dependency ratio. A low unemployment rate of 4.3% signifies a balanced labor market. Bulgaria has a medium number of recruitment agencies.
Bulgaria'S
AGENCY LANDSCAPE
500
Agencies operating in Bulgaria
A high number of agencies indicates a mature recruitment industry, marked by strong talent demand, established labor laws and economic stability.
14-19%
Typical fee range
Countries with higher fees imply finding talent is harder to find whilst lower fees indicate a high-volume, commoditized market.
Bulgaria'S
FEATURED AGENCIES
Human Power BG
BS Consulting
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Bulgaria'S
GROSS DOMESTIC PRODUCT (GDP) RATING
69
WORLD RANKED
Bulgaria ranks 69th in the world by current economic output
$102B
NOMINAL GDP (US$)
GDP reflects the overall size and economic strength of the country’s economy.
41
EMEA RANKED
Bulgaria is the 41st biggest GDP in EMEA out of 109 countries in the region
GDP GROWTH (%)
The above chart compares how Bulgaria's GDP has grown, compared to the rest of the world and the EMEA region in the last 7 years.
Positive growth indicates an expanding economy, while negative growth or recession signifies economic contraction. Strong growth can encourage hiring, but slower growth might lead to freezes or layoffs, influencing talent sourcing as businesses adapt to changing market conditions and demands.
Bulgaria'S
CURRENCY AND CODE
BGN
Country currency
BGR
Country ISO code
Bulgaria'S
INFLATION RATE
3.4%
CURRENT RATE
▼5.2% REDUCTION
Inflation represents the rate at which prices rise and purchasing power diminishes. High inflation may prompt employees to seek higher wages, potentially impacting company profitability. This situation could lead to budget constraints or hiring freezes, which might influence talent availability and sourcing strategies.
Bulgaria'S
COST OF LIVING
COST OF LIVING INDEX EXPLAINED
The cost of living has a direct impact on salary expectations and the competitiveness of compensation packages. It can influence the appeal of certain locations-while high-cost areas may attract highly skilled professionals looking for higher salaries, lower-cost areas can appeal to companies looking to minimize salary expenses or candidates seeking a better work-life balance.
Bulgaria'S
LABOUR STATISTICS
6.5M
POPULATION
With a population of 6,519,789, Bulgaria is a small sized country by global standards. Bulgaria's youth population is just below the world average, indicating it may face challenges in labor market sustainability over time. The working population in Bulgaria is close to the world average, suggesting a stable labor market that can adequately meet the economy's demands. Bulgaria's elderly population is just above the world average, suggesting a growing dependency ratio, which may strain the labor market.
Bulgaria'S
RELIGION AND ETHNICITY
Religion
In religiously diverse countries, a broad sourcing and engagement approach whilst appealing to inclusive practices resonates with this candidate market. In contrast, in a homogeneous religious environment, understanding dominant cultural norms is often more important when engaging with talent.
Ethnicity
In ethnically diverse countries, there may be a greater variety of candidates with different cultural backgrounds and experiences. Employers may need to focus more on inclusive hiring practices to ensure they attract talent from across different ethnic groups.
Bulgaria'S
UNEMPLOYMENT RATE
4.3%
CURRENT PERCENTAGE
▲0.03% INCREASE
Bulgaria's unemployment rate is healthy, indicating a well functioning labor market with good job opportunities for most people. Between 2022 and 2023, there was a small increase in unemployment, suggesting continued economic stability, with a slight dip in job availability
Bulgaria'S
TOP PERFORMING INDUSTRIES
Top industries
Electricity
Refined petroleum
Outsourcing centers
Bulgaria'S
GENDER DEMOGRAPHICS
RATIO OF MALES TO FEMALES (BY AGE)
LABOUR PARTICIPATION BY GENDER (%)
63
/
50
Male | Female
In Bulgaria there is a medium gap in participation rates between males and females, indicating moderate inequality with some progress towards gender parity.
Bulgaria'S
WORKING LIFE
$11K
Average gross annual wage (US$)
This figure represents yearly income before taxes. Higher wage countries are above $50,000 USD. Attracting talent in lower-wage markets can be cost-effective; however, offering above-average compensation may be required for in-demand skills.
$947
Average gross monthly wage (US$)
This figure represents monthly income before taxes. Higher-wage countries typically exceed $4,000 USD per month. Attracting talent in lower-wage markets can be cost-effective; however, offering above-average monthly compensation may be necessary for in-demand skills.
Bulgaria'S
WORKING LIFE
12DAYS
Minimum annual holidays
Minimum annual holidays reflect mandated leave. Hiring in countries with high allowances (over 25 days) will require emphasizing work-life balance when recruiting. In countries with fewer holidays (under 15 days), offering additional leave can enhance recruitment and set the organization apart.
40HRS
Average working full time week
Standard work hours are 8 per day/40 per week, typically Monday-Friday. Hours beyond this may qualify for overtime pay, regulated by law.
Bulgaria'S
TOP BENEFITS
410DAYS
Maternity leave
Maternity Leave: 410 days paid, 45 days pre/post-birth mandatory. Up to 2 years, compensated at different rates by National Insurance. Paternity: 15 days at 90% salary, optional 6 months unpaid. No specific parental leave law.
180DAYS
Sick leave
In Bulgaria, employers cover 70% of salary for the first three sick days. From day four, the government pays 80% of the average daily income from the last 18 months. Paid sick leave lasts up to 180 days, with possible extensions.
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