The statistics institute TUIK will release the unemployment data for January today (April 15).
Turkey’s jobless rate increased to 10% (or 2.8mn people) in December 2013 from 9.9% in November 2013. The seasonally-adjusted unemployment rate dropped to 9.4% from 9.8%, TUIK said last month. The labour participation rate edged down to 50.1% in December from 50.5%, the latest labour market data of TUIK showed.
TUIK calculated the jobless rate for the whole of 2013 at 9.7% when the Turkish economy expanded 4%. In 2012, the country’s GDP grew by 2.1% and the unemployment rate was 9.2%. The government forecasts a GDP growth rate of 4% for 2014 and its unemployment rate estimate for this year stands at 9.4%. In its latest World Economic Outlook report, the IMF said it expected the Turkish economy to grow at 2.3% this year and at 3.1% in 2015. Turkey’s unemployment rate will be 10.2% in 2014 and 10.6% in 2015, according to the IMF.
| December | ||
| 2012 | 2013 | |
| Population (mn) | 74,0 | 74,9 |
| Labour force participation rate (%) | 50,0 | 50,1 |
| Unemployed (mn) | 2,79 | 2,81 |
| Unemployment Rate (%) | 10,1 | 10,0 |
| Non-Farm Unemployment Rate (%) | 12,4 | 12,1 |
| Youth Unemployment Rate (%) | 19,8 | 18,7 |
| Seasonally-adjusted Unemployment Rate (%) | 9,5 | 9,4 |
| Source: statistics institute | ||
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