Labor Market Outlook: May 2012

A SHARP DECLINE IN EMPLOYMENT OF CONSTRUCTION SECTOR

 Seyfettin Gürsel, Gökçe Uysal and Merve Yiğit Yontar

According to the labor market statistics released by Turk-Stat, non-agricultural unemployment rate is 12.7 percent in the period of February 2012. Seasonally adjusted labor market data shows that non-agricultural unemployment rate increased by 0.1 points to 11.3 percent. We observe a slowdown in the increase of non-agricultural employment in the period of February 2012. Due to a slowdown in the increase in non-agricultural labor force, the increase in non-agricultural unemployment is limited. Employment in construction sector decreased by 110 thousand with a sharp decline, whereas the increase in manufacturing and the decline in services are limited. These numbers reflect the slow down in the growth rate.

doc. LaborOutlook2012M05

pdf. LaborOutlook2012M05