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Labor Market Outlook: March 2018

DECREASE IN UNEMPLOYMENT CONTINUES

Seyfettin Gürsel, Gökçe Uysal and Yazgı Genç

Seasonally adjusted labor market data show that non-agricultural unemployment rate decreased by 0.2 percentage points in the period of December reaching 11.8 percent.  It is worthy to note that in recent past the highest level in unemployment has been attained in December 2016 at 14.2 percent.   The reason behind this decrease is the high GDP growth (expected over 7 percent) which leaded strong increases in non-agricultural employment. From November to December employment increased in the services by 13 thousand while employment increase reached 44 thousand in both manufacture and construction sectors. Betam’s forecasting model predicts that the non-agricultural unemployment will decrease to 11.7 percent in the period of January 2018. On the other hand, according to seasonally adjusted labour data, the unemployment rate for females remained unchanged at 16,8 and for males it decreased from 9.9 percent to 9.6 percent.  Thus, difference in non-agricultural unemployment rate by gender increased.

doc. LaborMarketOutlook2018M03

pdf. LaborMarketOutlook2018M03