Scientific paper ID 1971 : 2020/3

The paper examines the labor market in Bulgaria, which is facing the challenges of the economic crisis, as well as the negative consequences of COVID-19. General information on unemployment and the labor market is presented the main trends in

their development are considered and the factors of influence are determined. An analysis of employment and unemployment was performed by determining the employment and

unemployment rates.

The demographic crisis and the growing emigration, the aging population, the decrease in the number of people of working age, the outflow of skilled labor to the solvent European labor market are the main unfavorable factors that negatively affect the development of the economy and the labor market.

Declining demand for services, shrinking markets, limited investment in development have led to negative labor market trends and an increase in registered unemployment, which

is becoming a permanent economic and social problem.

Special attention is given to the importance of education, qualifications and competencies of people and the impact they have on economic growth. The shortage of skilled labor is reported as a serious problem, which is a serious threat to the development of the economy.