LARGE INCREASE IN UNEMPLOYMENT
Seyfettin Gürsel, Mine Durmaz and Melike Kökkızıl
Seasonally adjusted labor market data shows that non-agricultural unemployment rate has reached 11.5 percent, increasing by 0.4 percentage points in the period of May 2014 compared to the period of April 2014. During the same period, non-agricultural employment decreased by 11 thousand while non-agricultural labor force increased by 91 thousand. Employment in construction and industrial sectors decreased by 45 thousand and 9 thousand, respectively. However, employment in services expanded by 41 thousand. Data on the month of May, which covers April-May-June months, reveals that unemployment is increasing parallel to the slowdown in economic growth in second quarter of the year. According to our forecasting based on Kariyer.net data, unemployment rate will continue to increase in the period of June 2014.
doc. LaborOutlook2014M08
pdf. LaborOutlook2014M08