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IwatchBulgaria.com - News - Average Productivity up by 4.7% in 2005.
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Average Productivity up by 4.7% in 2005.
submited on 06.04.2006 in category Fiscal affairs | Regulated markets | Privatisation | Macroeconomic developments
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Employment in the non-farm private sector grew by 5% in 2005. Thought growth remained robust, it is well below its pace a year earlier (close to 7%). Alongside the deceleration of employment growth, real price of labor started to rise quicker. Last year, real productivity grew by 4.7%, measured in real terms for the non-farm business sector in Bulgaria. It compares to 2.8% back in 2004.

Last two years private sector (excluding agriculture) grew by some 200,000 job positions. Meanwhile, there seems to be no political will to free resources from the budget spheres. Budget domains employ some 15% of the total number of employed in Bulgaria, mainly administration, education and healthcare. Apart from that, state-owned businesses keep 9% of the employed.

Latest data points at an important macroeconomic development – to possibilities to hire idle resource are fairly exhausted. More and more companies would have to expand by attracting workers from already existing jobs. That means that job creation will be more often associated with parallel job destruction.
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