Bulgaria has the cheapest labor in the entire EU

Bulgaria has the cheapest labor in the entire EU
Bulgaria has the cheapest labor in the entire EU

Bulgaria has the lowest labor costs in the entire EU. These are the conclusions of a study published by the German Agency for Economic Development, BTV reported. Meanwhile, another study warns of a growing shortage of skilled workers in the Federal Republic by 2030.

Eurostat data indicate that the average labor costs in our country last year were about 7 euros per hour. The services sector recorded the largest increase in labor costs at 14.4 percent in the first three months of 2022 compared to the same period last year.

According to the German Agency for Economic Development, in Bulgaria, salaries are increasing most significantly in companies that are looking for qualified workers.

Skilled personnel in Germany is becoming one of the big problems. The gap between demand and supply of skilled labor in Germany is widening. This trend may also lead to a slowdown in economic growth in the country. The authors of the study see the aging of the population as the main reason. For example, there is a lack of staff in the pharmaceutical business and the medical profession.

One option to ease the problem is looking at a larger wave of workers from abroad to fill the gaps in the market here. According to experts, even if they do not have the necessary qualifications, they can be trained here on the spot.

The lack of personnel, regardless of qualification, is already felt in various sectors.

There is also a shortage of cooks, staff in kindergartens and nursing homes, drivers and so on, the list is long.

At the same time, Germany is working hard to solve the problem, because it can lead to very serious consequences.


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