Turkey: February Job Report
Labor market data for February 2016 was released early this week. The unemployment rate was down 20 basis points on monthly basis to 10.9% according to the official figures. The employment rate also saw a pick-up and stood at 45.3% while workforce participation rate was 10 basis points higher at 45.3% compared to January. In non-adjusted terms, Turkish economy added 181K jobs of which 117K was in non-farm industries. However, manufacturing jobs decreased by...
Is Productivity in Decline?
In the years since the global financial crisis many economies have face slower expansions in some key components of potential output growth, and following that, lower potential growth has emerging as a new reality for the global economy. In advanced economies it has been driven by slower capital accumulation and labor growth which has been primarily due to adverse demographic. In developing economies slower productivity growth has been the underlying cause.
Encouraging innovation, improving education quality, higher...
Which Industries Create Most Jobs in Turkey
The day before I posted this article Turkey’s Finance Minister Mehmet Simsek had been complaining that state is growing in Turkey by giving the number of people employed in public utilities. Surprisingly he had been criticizing employment policies, and consequently the government while changes in the Cabinet is on the agenda. But then we saw tweeting about ongoing street clashes in Ferguson indicating that things got back to normal (#DirenFerguson).
One should ask which industries have created...