Labor Market Outlook: March 2014

STRONG INCREASE IN EMPLOYMENT, SHARP DECLINE IN UNEMPLOYMENT

Seyfettin Gürsel, Gökçe Uysal and Ayşenur Acar

Seasonally adjusted labor market data shows that non-agricultural unemployment rate decreased by 0.4 percentage points to 11.6 percent in the period of December 2013 compared to that of November 2013. According to our estimations, the growth rate has been accelerating since the second half of 2013 and thus has contributed to the decline in the non-agricultural unemployment. In a parallel manner, we observe employment increases in all sectors. Manufacturing employment increased in line with the increase in the manufacturing production index. The increase in service employment is the largest in the past year. We also observe increases in construction and agriculture.

doc. LaborOutlook2014M03

pdf. LaborOutlook2014M03