TURKEY

Turkey’s unemployment rises to 11.8 pct, highest in six years

Turkey’s unemployment rate rose to 11.8 percent in October 2016 marking the highest such rate since March 2010,
Turkey’s unemployment rises to 11.8 pct, highest in six years

Turkey’s unemployment rate rose to 11.8 percent in October 2016 marking the highest such rate since March 2010, when it hit 12.8 percent, the Turkish Statistical Institute (TurkStat) announced on Jan. 16.        

The rate of unemployment saw a 1.3 percentage point increase in October 2016 compared to the same month in 2015, according to the body.

The number of unemployed persons aged 15 and over rose to 3.65 million in October 2016, 500,000 more than the previous year, pushing the unemployment rate to 11.8 percent.

On a monthly basis, unemployment was 0.5 percentage points higher compared to the previous month -- 11.3 percent in September 2016.        

Although unemployment rose, the Turkish economy added 500,000 jobs in October compared to the previous year. 

Turkey’s labor force participation rose 0.8 percentage points in the month year-on-year to 52.4 percent, with the number of people in the labor force totaling 30.91 million. This was a rise of 911,000 in 2016 compared with the same period of the previous year.        

The number of women participating in the workforce rose by 1.3 percentage points to 33.1 percent from the previous year. The same rate for men was 0.2 percentage points higher in the same period, suggesting the overall growth of the labor force participation rate was driven by women.

Source: www.hurriyetdailynews.com

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