The Bulgarian labor market cools down: 15% annual decline and a crisis in tourism

Data from HR company JobTiger shows that the Bulgarian labor market is entering a cooling phase, even in the midst of the summer season. In June, the number of job postings shrank by 8% compared to May, which corresponds to about 3,000 fewer positions. On an annual basis, the trend is even more alarming – the decline reaches 15% (6,600 fewer postings).

The "Hotel and Restaurant" sector takes the biggest hit. Although summer months are traditionally the peak for hiring in tourism, the pace there has slowed down drastically. The monthly decline is 29%, and on an annual basis – 27%. Analysts point out that this is confirmation of a weaker start to the tourist season, especially in seaside centers like Varna and Burgas.

Despite the negative dynamics, the "Trade and Sales" sector maintains its leading position with over 25% of all postings in the country. Following it are "Manufacturing" (19%) and the crisis-affected "Hotels" (14%).

The trend of reducing offers does not bypass remote work either. The number of job postings from home has decreased by 5% compared to the previous month, reaching a total of about 2,400 positions, which constitutes only 6.9% of the market. The main driver for this segment continues to be the high-tech (IT) sector with a 37% share.

The capital Sofia continues to concentrate the largest share of the market with 34% of postings, while the remaining regional cities together make up 44%. Expectations are whether July and August will manage to compensate for the lag, or if the market will enter a longer phase of stagnation.