Posts Tagged Services
August Job Report: Confirming Weakness

August Job Report: Confirming Weakness

The unemployment rate in Turkey rose by 1.2 percentage points y/y to 11.3% while the non-farm unemployment rate climbed to 13.7%. This August job report marked another step in deceleration pace of the economy.

Partly due to the purge following the coup attempt and struggling tourism sector, Turkey lost 614K non-agriculture job in the three-month period ended in August of which 356K came from services. In seasonally adjusted terms, total decrease was 219K (-162K from manufacturing, -113K...

Turkey: February Job Report

Turkey: February Job Report

Good News or Bad News

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...

Economic Growth Fails to Create Jobs

Economic Growth Fails to Create Jobs

Today Turkish Statistics Office reported a monthly unemployment rate of 9.8% in August, which was higher than market consensus. The rate was at 9.3% in July. Elsewhere, non-farm unemployment rate jumped to 12.3% from 11.8%, while the labor force participation rate dropped by  0.1 pp to 51,6%. Seasonally adjusted unemployment rate remained at 10.1% and kept on visiting its historic high since October 2010.

Seasonally adjusted data signals that the employment gains a strong presence that despite...

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