STRIKING DECLINE IN UNEMPLOYMENT
Seyfettin Gürsel, Mine Durmaz Aslan and Yazgı Genç
Seasonally adjusted labor market data show that non-agricultural unemployment rate decreased by 0.5 points in the period of August from July reaching 12.8 percent. The most important reason behind this striking decrease is a significant increase in the non-agricultural employment in August 2017 compared to July 2017. This employment increase was experienced especially in manufacturing and service sectors. On the other hand, according to seasonally adjusted labor data, non-agricultural unemployment rate of both males and females have been decreased. Betam’s forecasting model predicts that the non-agricultural unemployment will remain at 12.8 percent in the period of September 2017.