Labor Market Outlook: March 2017

INCREASE IN UNEMPLOYMENT CONTINUES

Seyfettin Gürsel, Gökçe Uysal  and Selin Köksal

Seasonally adjusted labor market data show that nonagricultural unemployment rate increased by 0.2 points and reached 14.3 percent in the period of December 2016. We observe employment losses in industry and construction in the period of December 2016. The number of people employed in industry and construction decreased by 51 thousand and 28 thousand respectively, whereas the number of people employed in services and agriculture increased by 4 thousand and 39 thousand. In the period of December 2016, the nonagricultural labor force decreased by 28 thousand and declined to 25 million 637 thousand and the number of people employed in non-agricultural sectors decreased by 85 thousand and declined to 21 million 971 thousand. As a result, the number of non-agricultural unemployed increased by 47 thousand and reached 3 million 666 thousand. Betam’s forecasting model predicts that the non-agricultural unemployment will remain increase to 14.4 percent level in the period of January 2017.

doc. LaborMarketOutlook2017M03

pdf. LaborMarketOutlook2017M03

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