Labor Market Outlook: May 2025
BETAM starts a new monthly brief series with information from the Social Security Institute on formal employment. It worths to note that this data allows the monitoring of employment at the provincial level. Türkiye has attested the destruction of 645,941 formal jobs since September 2024 until the end of February 2025. The slump, even though expected due to the low season in the tourism sector, has also probably affected by a negative economic outlook and economic uncertainty. On the one hand, strong employment falls have been observed in Antalya, Istanbul, Muğla, and İzmir. On the other hand, the earthquake-affected region is experimenting a worth noting economic recovery in the form of employment generation. Employment losses in high value-added economic activities, such as those related to consultancy services (not related to tourism), are interpreted as a negative signal for the coming months.
READ MORE →