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Bulgaria ranks second in terms of wage growth in the European Union, data from Eurostat for the fourth quarter of 2017 showed. The increase in remuneration in Bulgaria reached 12.2% for the reported period. The labor costs for employers grew faster only in Romania – by 14.3%. Hungary, Lithuania, Estonia and Latvia rank immediately after Bulgaria. Overall, the average EU cost of labor rose by 2.3%. A drop in wages was reported only in Italy and Finland.<\/span><\/p>\nDespite the reported wage growth in Bulgaria, Eurostat data from January 2018 show that the minimum wage of EUR 261 in the country remains the lowest among the 28 EU countries. We are followed by Lithuania with a minimum wage of EUR 400.<\/span><\/p>\n Eurostat data released in January also showed that the unemployment rate in the EU has reached its lowest level since 10 years – 7.3%. In Bulgaria, unemployment has reached its lowest value since February 2009 – 5.9%. This ranks the country 12th in the EU in terms of lowest unemployment rate. Bulgaria is also among the 17 EU countries with unemployment lower than the EU average.<\/span><\/p>\n The lowest rates of unemployment were reported in the Czech Republic – 2.4%, Malta – 3.5% and Germany – 3.6%. The unemployment was higher in Greece (20.9%) and Spain (16.3%).<\/span><\/p>\n The full Eurostat data on wages and unemployment rates by country are available on the following pages:<\/span><\/p>\n