Unemployment rate of 10.6% reported for September

“The unemployment rate for September was 10.6%, reporting a decrease within the range of 0.1%, compared to the previous month,” Minister of Labour and Social Policy Totyu Mladenov said on bTV on Tuesday. He added that the 2012 budget framework projects an unemployment rate of 11.3% and, in his opinion, it will be fulfilled. The Government plans a lower level of unemployment - 10.9% - next year.

Minister Mladenov reminded that businesses should take advantage of funds under EU operational programmes for training their employees. He explained that the difference between the unemployment rate reported by the Employment Agency and the data of the National Statistical Institute (NSI) is within 1% and is due to the methodology as labour bureaus report the actual number of jobless people, while NSI provides data based on questionnaires.

Regarding the increase of pensions as of April 2012, Mladenov said that over BGN 582 mln will be needed for the purpose. According to him, this will not increase the deficit in the National Social Security Institute.
The money for raising pensions will come mainly from higher revenues, the increase of social security thresholds and of the ceiling of insurable income next year, which will raise the highest monthly pension from BGN 700 to BGN 770.

According to projects, 85% of the 2,290,000 pensions will be raised by 9.8%. Minister Mladenov noted that inherited pensions and widows’ allowances will also increase as the pensions of deceased persons will be updated.

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