NOTABLE INCREASE IN UNEMPLOYMENT
Seyfettin Gürsel, Gökçe Uysal ve Ayşenur Acar
Seasonally adjusted labor market data shows that non-agricultural unemployment increased to 11.8 percent in September 2012. The increase in the non-agricultural employment was due to the increase in service employment. Employment in services increased by 144 thousand compared to August 2012 and 657 thousand compared to September 2011. However, labor force grew at a faster rate, and thus non-agricultural unemployment rate increased from 11.4 percent to 11.8 percent. We expect that increase in non-agricultural employment would stagnate parallel to stagnating growth. The application per vacancy data released by Kariyer.net also points out that non-agricultural unemployment will continue to increase in October 2012.
doc. LaborOutlook2012M12
pdf. LaborOutlook2012M12