Labor Market Outlook: February 2017
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 points and reached 14.1 percent in the period of November 2016. The increase in employment remained limited during the period of November 2016. The number of people employed in agriculture, construction, services and industry increased by 5 thousand, 9 thousand, 21 thousand and 34 thousand, respectively. On the other hand, the nonagricultural labor force increased by 135 thousand and reached 25 million 710 thousand while the number of people employed in non-agricultural sectors grew by 65 thousand and increased to 22 million 85 thousand. As a result, the number of non-agricultural unemployed increased by 70 thousand and reached 3 million 625 thousand. Betam’s forecasting model predicts that the non-agricultural unemployment will remain constant at 14,1 percent level in the period of December 2016.