Labor Market Outlook: April 2014

UNEMPLOYMENT CONTINUES TO DECREASE DUE TO EMPLOYMENT INCREASES IN CONSTRUCTION AND SERVICES

 Seyfettin Gürsel, Gökçe Uysal and Ayşenur Acar

Seasonally adjusted labor market data shows that non-agricultural unemployment rate decreased from 11.6 percent to 11.3 percent (0.3 percentage point decline) in the period of January 2014. Seasonally adjusted labor market series show that employment increased in all sectors. Employment increases in services had slowed down in the third quarter of 2013, but they have accelerated since the last quarter of 2013. Also, we observe that employment increase in construction sector has accelerated since the period of August 2013. It increased from 1 million 672 thousand in the period of July 2013 to 2 million in the period of January 2014.  An increase of approximately 20 percent that is observed in a 6-month period, indicates that the labor market needs to be carefully analyzed.

doc. LaborOutlook2014M04

pdf. LaborOutlook2014M04