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Bulgaria Feb jobless rate up to 6.7 pct

Published 03/05/2009, 08:56 AM
Updated 03/05/2009, 09:00 AM
TTEF
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SOFIA, March 5 (Reuters) - Bulgaria's jobless rate rose to 6.7 percent in February from 6.5 percent the previous month as the global economic slowdown bites, the labour ministry said on Thursday.

Preliminary data showed 6,950 people joined the dole queues in February, bringing the total number of unemployed to 247,732.

The jobless rate was still below the 7.26 percent registered in the same month a year ago.

The Socialist-led government has launched a number of programmes to create nearly 80,000 new jobs and avoid massive layoffs in the Balkan country of 7.6 million people.

It also plans to save 19,000 jobs by offering temporary wage compensation worth a total of 6.9 million levs ($4.44 million) to companies which let their workers go part-time instead of firing them due to the global crisis.

Analysts and industry officials expect the unemployment rate to rose to double digits this year as hundreds of mainly metals, textile, construction and chemical companies halt or cut down operations and reduce their stuff.

UNEMPLOYMENT RATE FEB/09 JAN/09 FEB/08

monthly total 247,732 240,782 268,756

pct of workforce 6.69 6.5O 7.26 (Reporting by Tsvetelia Ilieva)

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