- 21% of Bulgarian employers plan to increase their staff in the third quarter of 2015 and only 5% intend to reduce staff. Once the results are seasonally adjusted, Bulgaria’s Employment Outlook stands at +10%, according to the ManpowerEmployment Outlook Survey for the third quarter of 2015. Employers from nine of ten sectors plan to add new staff to their workforce.
- The latest Manpower Employment Outlook Survey for the third quarter of 2015 improves slightly when compared to both the second quarter of 2015 and year-over-year.
- The most optimistic sector Outlookis reported by employers from Manufacturing and Finance, Insurance, Real Estate & Business Services sectors with +18% and +16%, respectively.
- Employers from the sector Electricity, Gas & Water supply report the only negative results of -1%.
- Employers from all regions plan to hire new staff. Most optimistic are employers from the Plovdiv region,with an Outlook of +15%, followed by those in Sofia with +13%,while employers in Rousereport +7% and those in Varna report +4%. Employers in Burgas report resultof +3% which declines slightly in comparison to the second quarter of this year and year-over-year.
- Employers from all sizes of companies – micro, small, medium and large –share positive third-quarter hiring plans. Most optimistic, however, are those from large companies, with an Outlook of +19%.
Sofia, June 9th, 2015 – Bulgarian employers expect hiring to continue at a cautiously optimistic pacein the third quarter of 2015. Year-over-year the results improve 2% when compared to the same period in 2014 and is relatively stable when compared to the prior quarter.
The Manpower Employment Outlook Survey is based on responses by 751 employers from companies working in the Bulgarian market. They have been asked whether they intend to hire additional workers or reduce their workforce in the coming quarter.
The national Outlook stands at +10%, following seasonal adjustment.
Employers in the Electricity, Gas & Water sector expect the hiring pace to improve slightly in comparison to the prior quarter, but still report Bulgaria’s only negative third-quarter forecast.
Employers in all five regions intend to hire more staff
Employers from all five regions – Burgas, Plovdiv, Rousse, Sofia and Varna– who took part in the Manpower Employment Outlook Surveyreport positive third-quarter hiring intentions. Most optimistic are those from the Plovdiv region,with an Outlook of +15%. Right after them,with just a slight difference,are employers from Sofia, reporting an Outlook of +13%,followed byRousse with +7%. Employers from Varna predict an Outlook standing at +4%.And last but still with positive Outlook are employers from Burgas with +3%. The results from Burgas, Plovdiv and Sofia are increasing compared to the second quarter of 2015 and Rousse’s and Varna’s results are decreasing.
|
Quarter |
|
|||
|
Q3_14 |
Q2_15 |
Q3_15 |
||
|
Burgas |
1 |
2 |
3 |
|
|
Plovdiv |
10 |
13 |
15 |
|
|
Rousse |
11 |
8 |
7 |
|
|
Sofia |
8 |
11 |
13 |
|
|
Varna |
12 |
10 |
4 |
|
The most optimistic sector Outlooks are reported by employers from Manufacturing andFinance, Insurance, Real Estate & Business Services sectors
The most optimistichiring intentionsfor the second quarter of 2015 are reported by employers from Manufacturing and the Finance, Insurance, Real Estate & Business Services sector,with Outlooks of+18% and +16%, respectively.
The forecast for Mining & Quarryingdrastically increases with 13%Outlook compared to the second quarter of this year and 15% compared to year-over-year. These are the most optimistic results since the start of the Outlook in 2011.
The hiring pace in the Transport, Storage & Communicationssector remains steady, it is decreasing but employers from this sector report positive hiring planswith the Outlook standing at +11%.
Employers from the sectors of Restaurants and Hotels also expect a positive hiring pace in preparation for the busy summer season,with Outlooks of +8%. The results are relatively stable when compared to year-over-yearand last quarter.
Employers in the Public & Social sector report an Outlook of +7% for the third quarter of 2015.The sector’s Outlook remains positive since the start of the survey in 2011.
Employers from Construction sector report modest hiring plans plans with an Outlook of +6% which is with 6 percentage points weaker than the second quarter of 2015. Employers in the sector Agriculture, Hunting, Forestry & Fishing report an Outlook of +4%. The forecast weakens 1 percent whencompared to the second quarter of 2015 and is 6 percentage points weaker when compared year-over-year.
The only negative results are from Electricity, Gas & Water supply sector. Employers from the sector report -1% which is still an improvement of 3 percentage points when compared to the second quarter.
“This quarter we can see higher investments in Construction. 7, 7% is the growth of the construction of buildings inBulgaria in the first couple of months. Only for the first couple of months this year 965 buildings have been started.The number is supportedalso by the large influx of building for renovation this year. The business of auxiliaryindustriesofautomotivemanufacturing is developing as well and more than 45 companies in the sector which outsourced their activities in Bulgaria are developing intensively and are enlarging their manufacturing facilities,” Nadia Vassileva, Managing Director of Manpower Bulgaria, Serbia and Croatia commented. “Bulgarian infrastructure slowly recoversand enters into therailsof the European Union, with a greathelp from the EUprogramswith which, for example, we buildnewsubway or 39 cities in Bulgaria will get EUR 840 million for improving energy efficiency in building and for public transport development,” Nadia Vassileva commented.
| QUARTER |
Q3_14 |
Q2_15 |
Q3_15 |
| Bulgaria |
8 |
9 |
10 |
| Agriculture, Hunting, Forestry &Fishing |
10 |
5 |
4 |
| Construction |
3 |
12 |
6 |
| Electricity, Gas & Water Supply |
1 |
-4 |
-1 |
| Finance, Insurance, Real Estate & Business Services |
15 |
16 |
16 |
| Manufacturing |
6 |
13 |
18 |
| Mining & Quarrying |
2 |
0 |
13 |
| Public & Social |
5 |
8 |
7 |
| Restaurants & Hotels |
6 |
7 |
8 |
| Transport, Storage & Communication |
10 |
15 |
11 |
| Wholesale & Retail Trade |
16 |
8 |
6 |
Source: Manpower
As the past few quarters the interest of the Bulgarian market from foreign companies continues according to media reports.
One of the many examples is the company ‘Yazaki Bulgaria’ which is now opening a third factory for automotive production in Bulgaria which is worth EUR 30 million and will open around 1000 workplaces. The company has two more factories in which are working over 3000 people. But not onlyforeign companiesinvest inBulgarianmarket.It is observedslidingbetweenBulgariancompanies. The Bulgarian company for furniture ‘Paralel’ is investing BGN 16 million in expanding their business. The new base will open 250 workplaces, while now the company has 700 employees.
“Barrier toBulgaria is the youth unemploymentand emigration.The last fewmonths we can see higher interest on the topic.Secondary educationis plannedtobestimulated with over BGN 40million. The resourcesare from 10 nationalprograms whichthe Government approved. Another example is that the SocialMinistryorganized twoprograms, inwhich 42000 young peoplewho neither worknorstudy, willhave a chanceto realizethemselves at the labor market,” Nadia Vassileva, Managing Director of Manpower Bulgaria, Serbia and Croatia commented.
Companies of all sizes are ready to hire but the most optimistic hiring plans are reported by large ones, with an Outlook of +19%. They are followed by medium companies,where employers report an Outlookof +14%. Employers in small and micro companies share Outlooks of+7% and +4%, respectively.
Question: All survey participants answered the same question: “How do you anticipate the employment rate in your region to change in the three months until the end of September 2015 as compared to the current quarter?”
About ManpowerGroup
ManpowerGroup™ (NYSE: MAN) has been the world’s workforce expert, creating innovative workforce solutions, for more than 65 years. As workforce experts, we connect more than 600,000 men and women to meaningful work across a wide range of skills and industries every day. Through our ManpowerGroup family of brands — Manpower®, Experis™, Right Management ® and ManpowerGroup™ Solutions— we help more than 400,000 clients in 80 countries and territories address their critical talent needs, providing comprehensive solutions to resource, manage and develop talent. In 2015, ManpowerGroup was named one of the World’s Most Ethical Companies for the fifth consecutive year and one of Fortune’s Most Admired Companies, confirming our position as the most trusted and admired brand in the industry. See how ManpowerGroup makes powering the world of work humanly possible:www.manpowergroup.com.
About ManpowerGroup Bulgaria
ManpowerGroup is one of the leaders on Bulgarian market in contingent and permanent recruitment workforce solutions. It is part of ManpowerGroup, the world leader in innovative workforce solutions, which creates and delivers high-impact solutions that enable clients to achieve their business goals and enhance their competitiveness. With branches in Sofia, Plovdiv, Bourgas and Varna, ManpowerGroup has provided organisations in Bulgaria with a continuum of staffing solutions from the incidental to the strategic for nine years now, working with businesses from all industry sectors to help them win. 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 deep talent pool, providing clients with access to the people they need, fast. ManpowerGroup Bulgaria creates powerful connections between organisations and the talent they need to enhance their competitiveness and unleash their workforce potential. By creating these powerful connections, we help everybody achieve more than they imagined, and power the world of work.
For further information and to arrange an interview, please contact:
Nina Nedelcheva, nina.nedelcheva@ndg-communications.eu, +359 887 378 328
