UNEXPECTED INCREASE IN UNEMPLOYMENT
Seyfettin Gürsel, Mine Durmaz Aslan and Yazgı Genç
Seasonally adjusted labor market data show that declining non-agricultural unemployment rate since December 2016 increased by 0.2 points in the period of July from June reaching 13.4 percent. The most important reason behind this increase is a significant decrease in the non-agricultural employment in July compared to June. In that period, significant loss of employment was experienced in service sector. On the other hand, according to seasonally adjusted labor data, non-agricultural unemployment rate of males was increased by 0.5 points while non-agricultural unemployment rate of females was not changed. Betam’s forecasting model predicts that the non-agricultural unemployment will remain at 13.4 percent in the period of August 2017.