Labor Market Outlook: November 2016
UNEMPLOYMENT CONTINUES TO INCREASE
Seyfettin Gürsel, Gökçe Uysal and Selin Köksal
Seasonally adjusted labor market data show that nonagricultural unemployment rate increased by 0.2 percentage points and reached 13.5 percent in the period of August 2016. In this period, number of people employed in agriculture and services increased by 57 and 15 thousand, respectively. On the other hand, there is an employment loss by 30 thousand in manufacturing sector. Parallel to these developments, the number of unemployed in non-agricultural sectors grew by 55 thousand and reached 3 million 404 thousand. The unemployment rate which was 11.8 percent in the period of April 2016 increased by 1.7 percentage points and reached 13,5 percent in August 2016. Betam’s forecasting model predicts that the non-agricultural unemployment will remain constant in the period of September.