private sector – Muhasebe News

In December, U.S. private sector job growth far above predictions; increased by 235,000 jobs

MuhasebeNews — Mon, 09 Jan 2023 08:15:33 +0000

January 9, 2023

Private sector employment in the U.S. increased by 235,000 jobs in December and annual pay was up 7.3 percent year-over-year, according to the December ADP® National Employment ReportTM produced by the ADP Research Institute® in collaboration with the Stanford Digital Economy Lab (“Stanford Lab”).

The jobs report and pay insights use ADP’s fine-grained anonymized and aggregated payroll data of over 25 million U.S. employees to provide a representative picture of the labor market. The report details the current month’s total private employment change, and weekly job data from the previous month. ADP’s pay measure uniquely captures the earnings of a cohort of almost 10 million employees over a 12-month period.

“The labor market is strong but fragmented, with hiring varying sharply by industry and establishment size,” said Nela Richardson, chief economist, ADP. “Business segments that hired aggressively in the first half of 2022 have slowed hiring and in some cases cut jobs in the last month of the year.”

Job resurgence was seen in the last two months of 2022 led by consumer-facing service industries. Hiring was strong across small and medium establishments while large establishments saw a drop in employment of 151,000 jobs.

December ushered in the largest decline in pay growth for job stayers in the three-year series history. Leisure and hospitality; trade, transportation and utilities; and information sectors had the sharpest declines in pay gains. Job changers’ pay growth also fell to the lowest level in 10 months.

Source: ADP Research Institute®
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What are the Developments In Private Sector’s Outstanding Loans Received From Abroad?

MuhasebeNews — Fri, 05 May 2017 07:32:22 +0000

As regards private sector’s outstanding loans received from abroad, long-term loansrecorded USD 202.7 billion as of February, increasing by USD 241 million whereas short-term loans (excluding trade credits) realized USD 15.2 billion, increasing by USD 902 million in comparison to the end of 2016.
From the borrower’s side, regarding long-term loans, banks’loan liabilities decreased by USD 193 million whereas bond liabilities amounted to USD 24.5 billion, increasing by USD 150 million in comparison to the end of 2016. In the same period, non-bank financial institutions’ loan liabilities decreased by USD 333 million; whereas bond liabilities amounted to USD 4.5 billion, decreasing by USD 51 million. Non-financial institutions’ loan liabilities recorded an increase of USD 592 million in comparison to the end of 2016; while bond liabilities amounted to USD 5.7 billion, as of February. Regarding short-term loans,banks’ loan liabilities realized as USD 10.8 billion increasing by USD 499 million; whereas non-financial institutions’ loan liabilities realized as USD 2.7 billion, increasing by USD 486 million in comparison to the end of 2016.
From the creditor’s side, regarding long-term loans, liabilities to private creditorsexcluding bonds amounted to USD 147.7 billion, decreasing by USD 31 million compared to the end of the previous year. Regarding short-term loans, liabilities to private creditors excluding bonds amounted to USD 14.8 billion increasing by USD 916 million compared to the end of the previous year.
Regarding the currency composition, of the total long-term loansin the amount of USD 202.7 billion, 60.9 percent consists of USD, 33.0 percent consists of Euro, 4.2 percent consists of Turkish lira and 1.9 percent consists of other currencies and of the total short-term loans in the amount of USD 15.2 billion, 50.9 percent consists of USD, 31.2 percent consists of Euro, 17.7 percent consists of Turkish lira and 0.2 percent consists of other currencies.
As for the sectoral breakdownby the end of February, of the total long-term loans in the amount of USD 202.7 billion, 52.0 percent consist of liabilities of the financial institutions, whereas 48.0 percent consists of the liabilities of the non-financial institutions. In the same period, of the total short-term loans in the amount of USD 15.2 billion, 82.1 percent consists of liabilities of the financial institutions, whereas 17.9 percent consists of liabilities of the non-financial institutions.
Private sector’s total outstanding loans received from abroad based on a remaining maturity basis; point out to principal repayments in the amount of USD 66.0 billion for the next 12 months by the end of February.

Source: Central Bank of the Turkish Republic – February 2017

Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

Are Salaries and Wages Subject to Income Tax in Turkey?

MuhasebeNews — Thu, 04 May 2017 09:18:44 +0000

Income derived from dependent personal services is subject to the income tax. This income comprises such income from all kinds of employment in both public and private sector as salaries and wages, as well as associated supplementary income such as allowances, bonuses, anniversary gifts, gratuities, commissions, premiums, compensations and other wage and salary related remunerations including benefits in kind at market value.

In determining taxable amount of salaries and wages, the following expenditures are allowed to be deducted from gross amount:
– Legal deduction made according to various laws or regulations,
– Payments made for pensions,
– Payments made for various insurances,
– Payments made for labor union membership.

Source: Revenue Administration

International Standard Book Number (ISBN) Statistics of Turkey, 2016

MuhasebeNews — Wed, 19 Apr 2017 11:43:36 +0000

51 thousand 113 books were published
In 2016, total number of published materials was 54 thousand 446 which means an decrease of 3.5% as compared with 2015. Decrease was on electronic books (web based) with 57.8%. 54 thousand 446 ISBN were given for 51 thousand 113 books, 325 electronic books (DVD, VCD, CD), 2 thousand 697 electronic books (web based), 30 talking books (cassette, CD, DVD) and 281 other materials in 2016.

Number of publications by type and topic of material, 2015-2016

The 92% of publications were published by the private sector
In 2016, materials that were published by the private sector were 50 thousand 72 which means an decrease of 3.8% compared with 2015. The distribution of published materials by publisher type was respectively 92% published by private sector, 5.5% by public and educational institutions and 2.5% by non-governmental organizations in 2016.

The 27% of publications were published on educational issues
The 27% of the materials published in 2016 was on education, 20.5% was on adult culture,16.8% was on adult fiction, 15.8% was on children and adolescence, 13.7% was academic, 6.1% on religion. The language of published material was 92.9% of Turkish, 4.2% of English and 2.9% of other languages.

The highest increase was in educational publications with 9.9%
In 2016, the number of educational publications was 7 thousand 481 with an increase of 9.9% and children and adolescence publications was 8 thousand 618 with an increase of 4.9% as compared with 2015.

Number of book banderol sold was increased by 5.2%
In 2016, the number of book banderol sold was 404 million 129 thousand 293 with an increase of 5.2% as compared with 2015.