site.btaBulgarian Labour Force Decreases Annually by about 50,000 People

Sofia, November 30 (BTA) - The labour force in Bulgaria is declining annually by about 50 thousand people, the working age population is about 64 per cent of the country's population, and by 2050 it will be about 56 per cent, explained Dr. Tomcho Tomov, Director of the National Centre for Competence Assessment at the Bulgarian Industrial Association (BIA). On Tuesday, Tomov presented at a press conference the main conclusions of a project implemented by the BIA under the Human Resources Development Operational Programme, which explores the issue of an aging workforce and makes suggestions on how different generations can work better together.

According to Tomov, people over the age of 55-60 are increasingly interested in the opportunity to continue working. The data show that the currently employed over 55 are 702,500 people or 23 per cent of the workforce, and forecasts are that by 2035 they will reach and exceed 36 per cent.

The experts noted that Bulgaria follows the demographic trends in Europe, but is in first place in terms of population decrease and the rate of aging of the workforce. The high overall and premature mortality rate, the long-term external migration and the growing decrease of economically active people, along with the reducing birth rate, put the country in a very disadvantageous situation.

According to Tomov, Bulgaria has four demographic resources that must be used effectively for economic growth: the increasing number of working women, the, large number of people of working age who are outside the labour market (chronically ill, people with disabilities , unemployed and uneducated young, marginalized groups in society, etc.), the able-bodied people in pre-retirement and retirement age who want to continue working and develop in their profession, and Bulgarians living abroad.

A study on the project found that Generation Z (workers aged 18-26, born between 1993 and 2001), made up about 11 per cent of the workforce. Generation Y (workers aged 27 - 39 years, born in the period 1980 - 1992), made up about 27 per cent of the workforce, Generation X (workers and employees aged 40 - 54 years, born in the period 1965 - 1979) accounted for about 40 per cent of the workforce, and generation T (workers aged 55 - 65 and over, born before 1964) amounted to about 23 per cent of the workforce. MY/DT
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