Turkish January unemployment rate to be announced today.

By bne IntelliNews April 15, 2014

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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