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.
|Labour force participation rate (%)||50,0||50,1|
|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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