Home / Knowledge / News / Lack of skilled labour likely to hamper economic growth

Lack of skilled labour likely to hamper economic growth

18
Jan '08
Although Bulgaria has been able to bring down its unemployment rate below 7 percent by December last year, domestic industries are acutely facing shortage of skilled labourers.

In a press conference, human resource experts opined that this dearth of skilled workforce might decelerate the economic growth of the country.

Statistics show that companies have recorded 20 percent hike in wages, but overall productivity has not remained at par with this growth. Most of the enterprises are unable to cope this pressure and are contemplating to shift their production bases where the labour cost is economical.

Even few textile firms are mulling to move their production facilities to countries like Macedonia and Moldova.

Economy analysts fear that this strained scenario will most probably keep the potential foreign investors at bay.

In order to avoid this critical situation, industrial professionals stress that Government, now, must seriously consider importing not only advanced technology but also skilled labour.


Interviews View All

Vidhyaa Shankar. S, A Ganapathi Chettiar

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Textile industry, Head honchos

Textile industry
Head honchos

GenNext is slowly but surely adapting to global trends and practices

Top executives, Retailers

Top executives
Retailers

Weak rupee breeds inflation

Liz Manning,

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Christiane Thies,

Christiane Thies

Founded in 1892, Thies has concentrated on the fabrication of high-quality ...

Shivani Swamy,

Shivani Swamy

The Livinguard Technology is owned by Green Impact Holding AG based in...

Prof Seokheun (Sean) Choi, Binghamton University, State University of New York (SUNY)

Prof Seokheun (Sean) Choi
Binghamton University, State University of New York (SUNY)

A team of researchers from the State University of New York (SUNY),...

Hemant Bheda, Arevo

Hemant Bheda
Arevo

Arevo, based in Silicon Valley in California, develops technology to...

Karl Zelik, Vanderbilt University

Karl Zelik
Vanderbilt University

A team of engineers at the Vanderbilt University has designed a smart...

Igor Chapurin, Chapurin

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Silvia Venturini Fendi, Fendi s.r.l

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Judy Frater, Somaiya Kala Vidya

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


December 2019

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search