AN UNEXPECTED AND STRONG INCREASE IN UNEMPLOYMENT
Seyfettin Gürsel, Gökçe Uysal and Mine Durmaz
Seasonally adjusted labor market data show that nonagricultural unemployment rate increased by 0.5 percentage points and reached 12.2 percent in the period of May 2016. Betam’s forecasting model predicted that the nonagricultural unemployment rate would remain constant in the period of May 2016. This unexpected increase in unemployment is mainly because of the weak increase in employment against the increase in the labor force. The increases in nonagricultural employment in services and in manufacturing were limited to 53 thousand and 5 thousand respectively. However, employment decreased in the construction sector by 11 thousand. Compared to the May 2015 period, number of unemployed women increased by 9 thousand whereas number of unemployed men increased by 92 thousand in the period of May 2016.
doc. LaborOutlook2016M08
pdf. LaborOutlook2016M08