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The number of unemployed persons decreased by 502 thousand to 4 million 228 thousand persons in the period of February 2020 in Turkey

MuhasebeNews — Mon, 11 May 2020 11:00:38 +0000

Labour Force Statistics, February 2020 in Turkey

Unemployment rate realized as 13.6%

The number of unemployed persons aged 15 years old and over decreased by 502 thousand to 4 million 228 thousand persons in the period of February 2020 in Turkey compared with the same period of the previous year. The unemployment rate occurred as 13.6% with 1.1 percentage point decrease. Non-agricultural unemployment rate occurred as 15.4% with 1.5 percentage point decrease.

Employment rate realized as 43.1%

The number of employed persons decreased by 602 thousand to 26 million 753 thousand persons in the period of February 2020 compared with the same period of the previous year. The employment rate occurred as 43.1% with 1.7 percentage point decrease.

While the number of agricultural employment decreased by 530 thousand persons, construction decreased by 93 thousand persons and services decreased by 183 thousand persons, industry increased by 205 thousand persons. According to the distribution of employment by sector; 15.5% was employed in agriculture, 20.9% was employed in industry, 5.2% was employed in construction and 58.3% was employed in services.

Labour force participation rate realized as 49.9%

The number of persons in the labour force realized 30 million 982 thousand persons with 1 million 102 thousand persons decrease in the period of February 2020 compared with the same period of the previous year. Labour force participation rate (LFPR) was 49.9% with 2.6 percentage point decrease.

Non-seasonally adjusted main labour force indicators, 15 + age, (Thousand), February 2019, February 2020

The rate of unregistered employment realized as 30.0%

The ratio of persons working without any social security relating to the main job occurred 30.0% with 3.5 percentage point decrease in the period of February 2020 compared with the same period of the previous year. The rate of unregistered employment realized as 20.2% with 2.6 percentage point decrease in the non-agricultural sector compared to the same period of the previous year.

Public sector employment increased as 4.0%

According to data gathered by Presidency of Strategy and Budget, total public sector employment realized as 4 million 699 thousand persons with 4.0% percentage point increase in the firsth quarter of 2020 compared to the same period of the previous year.

For 15-64 age group, unemployment rate realized as 13.9% and employment rate realized as 47.6%

For the 15-64 age group, the unemployment rate occurred as 13.9% with 1.1 percentage point decrease and non-agricultural unemployment rate occurred as 15.5% with 1.4 percentage point decrease compared to the same period of the previous year. In this age group, employment rate occurred as 47.6% with 1.7 percentage point decrease and labour force participation rate occurred as 55.4% with 2.6 percentage point decrease.

Non-seasonally adjusted main labour force indicators, 15-64 age group, (%), February 2019, February 2020

Youth unemployment rate realized as 24.4%, employment rate realized as 29.5%

The youth unemployment rate between aged 15-24 years realized as 24.4% with 1.7 percentage point decrease and the youth employment rate realized as 29.5% with 2.5 percentage point decrease compared with the same period of the previous year. In the same period, labour force participation rate realized as 39.1% with 4.2 percentage point decrease. The rate of neither in employment nor in education realized as 26.7% with 1.9 percentage point increase compared with the same period of the previous year.

Non-seasonally adjusted main labour force indicators, 15-24 age group, (%), February 2019, February 2020

Seasonally adjusted unemployment rate realized as 12.7%, employment rate realized as 44.3%

Seasonally adjusted unemployment rate realized as 12.7% without any change compared with the same period of the previous year. The number of unemployed persons decreased by 67 thousand to 3 million 996 thousand persons.

Seasonally adjusted employment rate realized as 44.3% with 0.9 percentage point decrease. The number of employed persons estimated as 27 million 509 thousand persons with 495 thousand persons decrease compared with the same period of the previous year.

Seasonally adjusted labour force participation rate was 50.7% with 1 percentage point decrease. The number of labour force estimated as 31 million 505 thousand persons with 562 thousand persons decrease.

According to the seasonally adjusted number of employment by sectors, employment in agriculture decreased by 218 thousand persons, industry decreased by 56 thousand persons, construction decreased by 28 thousand persons and services decreased by 194 thousand persons.

Employment by sectors, (Thousand), February 2018-February 2020

The next release on this subject will be on June 10, 2020.

EXPLANATIONS
In the period of February 2020, results published in this press release includes 1^st-13^thweeks period including January, February and March 2020.

Source: TurkStat
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.

Unemployment rate in Turkey realized as 13.7% with 2.7 percentage point increase

MuhasebeNews — Fri, 20 Mar 2020 08:15:39 +0000

Labour Force Statistics, 2019 in Turkey

Unemployment rate realized as 13.7%

Number of unemployed persons aged 15 years old and over has realized as 4 million 469 thousand persons with 932 thousand persons increase in 2019 compared to the previous year. Unemployment rate realized as 13.7% with 2.7 percentage point increase. Non-agricultural unemployment rate was estimated as 16.0% with 3.1 percentage point increase.

Employment rate realized as 45.7%

Number of employed persons aged 15 years old and over realized as 28 million 80 thousand persons with 658 thousand persons decrease and employment rate occured as 45.7% with 1.7 percentage point decrease.

Labour force participation rate realized as 53.0%

Labour force realized as 32 million 549 thousand persons with 275 thousand persons increase and labour force participation rate realized as 53.0% with 0.2 percentage point decrease in 2019.

Main labour force indicators, 15 + age, (Thousand), 2018, 2019

For the 15-64 age group, unemployment rate realized as 14.0%, employment rate realized as 50.3%

Unemployment rate for the 15-64 age group realized as 14.0% with 2.8 percentage point increase and non-agricultural unemployment rate was estimated as 16.1% with 3.1 percentage point increase. Employment rate in this age group occured as 50.3% with 1.7 percentage point decrease and labour force participation rate realized as 58.5% without any change.

Main labour force indicators, 15-64 age group, 2018, 2019

Youth unemployment rate realized as 25.4%, youth employment rate realized as 33.1%

Unemployment rate for the 15-24 age group realized as 25.4% with 5.1 percentage point increase, employment rate in this age group occured as 33.1% with 1.9 percentage point decrease. Labour force participation rate realized as 44.4% with 0.4 percentage point increase. The rate of neither in employment nor in education realized as 26.0% with 1.5 percentage point increase.

Main labour force indicators, 15-24 age group, 2018, 2019

56.5% of total employment was in services

In 2019, 18.2% of total employment was employed in agriculture, 19.8% was employed in industry, 5.5% was employed in construction and 56.5% was employed in services. While the share of employed in services realized as 1.6 percentage point increase and the share of industry realized as 0.1 percentage point increase while the share of agriculture realized with 0.2 percentage point decrease and construction realized with 1.4 percentage point decrease compared with the same period of the previous year.

In 2019, 5 million 97 thousand persons were employed in agriculture, 5 million 561 thousand persons were employed in industry, 1 million 550 thousand persons were employed in construction and 15 million 872 thousand persons were employed in services. Compared with the same period of the previous year, the number of employed in agriculture decreased 200 thousand persons, industry decreased 113 thousand persons and construction decreased 442 thousand persons while services increased 98 thousand persons,

Sectoral employment (Thousand), 2014-2019

TRC3 (Mardin, Batman, Şırnak, Siirt) region had the highest unemployment rate

TRC3 (Mardin, Batman, Şırnak, Siirt) region had the highest unemployment rate with 30.9% and TR82 (Kastamonu, Çankırı, Sinop) region had the lowest unemployment rate with 7.6%.

Unemployment rate (%), SR Level 2, 2019

TR21 (Tekirdağ, Edirne, Kırklareli) region had the highest employment rate

TR21 (Tekirdağ, Edirne, Kırklareli) region had the highest employment rate with 53.0%. TRC3 (Mardin, Batman, Şırnak, Siirt) region had the lowest employment rate with 30.0%.

Employment rate (%), SR Level 2, 2019

TR21 (Tekirdağ, Edirne, Kırklareli) region had the highest labour force participation rate

TR21 (Tekirdağ, Edirne, Kırklareli) region had the highest labour force participation rate with 59.6%. TRC3 (Mardin, Batman, Şırnak, Siirt) region had the lowest labour force participation rate with 43.5%.

Labour force participation rate (%), SR Level 2, 2019

The next release on this subject will be on April 10, 2020.

Unemployment rate in Turkey occurred as 13.7% with 0.2 percentage point increase

MuhasebeNews — Tue, 10 Mar 2020 07:15:13 +0000

Labour Force Statistics, December 2019 in Turkey

Unemployment rate realized as 13.7%

The number of unemployed persons aged 15 years old and over increased by 92 thousand to 4 million 394 thousand persons in the period of December 2019 in Turkey compared with the same period of the previous year. The unemployment rate occurred as 13.7% with 0.2 percentage point increase. Non-agricultural unemployment rate occurred as 15.8% with 0.2 percentage point increase.

Employment rate realized as 44.7%

The number of employed persons increased by 3 thousand to 27 million 658 thousand persons in the period of December 2019 compared with the same period of the previous year. The employment rate occurred as 44.7% with 0.7 percentage point decrease.

While the number of agricultural employment decreased by 225 thousand persons, construction decreased by 119 thousand persons while industry increased by 225 thousand persons and services increased by 122 thousand persons. According to the distribution of employment by sector; 16.5% was employed in agriculture, 20.6% was employed in industry, 5.4% was employed in construction and 57.5% was employed in services.

Labour force participation rate realized as 51.8%

The number of persons in the labour force realized 32 million 52 thousand persons with 95 thousand persons increase in the period of December 2019 compared with the same period of the previous year. Labour force participation rate (LFPR) was 51.8% with 0.6 percentage point decrease.

Non-seasonally adjusted main labour force indicators, 15 + age, (Thousand), December 2018, December 2019

The rate of unregistered employment realized as 32.3%

The ratio of persons working without any social security relating to the main job occurred 32.3% with 1.1 percentage point decrease in the period of December 2019 compared with the same period of the previous year. The rate of unregistered employment realized as 21.9% with 0.8 percentage point decrease in the non-agricultural sector compared to the same period of the previous year.

For 15-64 age group, unemployment rate realized as 14.0% and employment rate realized as 49.3%

For the 15-64 age group, the unemployment rate occurred as 14.0% with 0.3 percentage point increase and non-agricultural unemployment rate occurred as 15.9% with 0.2 percentage point increase compared to the same period of the previous year. In this age group, employment rate occurred as 49.3% with 0.6 percentage point decrease and labour force participation rate occurred as 57.3% with 0.5 percentage point decrease.

Non-seasonally adjusted main labour force indicators, 15-64 age group, (%), December 2018, December 2019

Youth unemployment rate realized as 25.0%, employment rate realized as 31.9%

The youth unemployment rate between aged 15-24 years realized as 25.0% with 0.5 percentage point increase and the youth employment rate realized as 31.9% with 0.5 percentage point decrease compared with the same period of the previous year. In the same period, labour force participation rate realized as 42.5% with 0.5 percentage point decrease. The rate of neither in employment nor in education realized as 25.4% with 0.5 percentage point increase compared with the same period of the previous year.

Non-seasonally adjusted main labour force indicators, 15-24 age group, (%), December 2018, December 2019

Seasonally adjusted unemployment rate realized as 13.1%, employment rate realized as 45.5%

Seasonally adjusted unemployment rate realized as 13.1% with 0.1 percentage point decrease. The number of unemployed persons decreased by 43 thousand to 4 million 267 thousand persons.

Seasonally adjusted employment rate realized as 45.5% with 0.3 percentage point decrease. The number of employed persons estimated as 28 million 203 thousand persons with 136 thousand persons decrease compared with the same period of the previous year.

Seasonally adjusted labour force participation rate was 52.4% with 0.4 percentage point decrease. The number of labour force estimated as 32 million 470 thousand persons with 180 thousand persons decrease.

According to the seasonally adjusted number of employment by sectors, employment in agriculture decreased by 96 thousand persons, industry decreased by 59 thousand persons and services decreased by 6 thousand persons while construction increased by 25 thousand persons.

The next release on this subject will be on March 20, 2020.

EXPLANATIONS
In the period of December 2019, results published in this press release includes 44^th-52^ndweeks period including November and December 2019 and 1^st– 4^thweeks period including January 2020.

U.K. Unemployment is at a 42-year Low. That’s not as Good as it Looks

MuhasebeNews — Thu, 05 Oct 2017 11:30:31 +0000

British unemployment is the lowest it has been in 42 years — but many workers won’t be celebrating.
Unemployment fell slightly to 4.4% in the three months to June, according to official data published Wednesday. The jobless rate hasn’t been that low since 1975. And the number of people in work is at a record high.
Great news, right? Not so fast. Here’s why some economists are sounding the alarm:

Real wages are still falling
The very low rate of unemployment rate is not translating into higher pay. Prices are still rising much faster than wages, meaning people’s finances are being squeezed.
The latest data show wages grew 2.1% year on year in the three months to June. Inflation was 2.6%. That means real incomes are down 0.5% compared to the same time last year.
“The continued fall in real earnings will put further pressure on households and risks upsetting the resilience of the U.K. economy,” said Yael Selfin, chief economist at KPMG U.K.

Hiring rather than investing
On its own, Britain’s record high employment paints a rosy picture of the U.K. economy.
But given the sharp slowdown in growth, the robust jobs market may prove to be a mirage.
Worried about the uncertain outcome of the Brexit negotiations, companies are hiring more people, rather than spending on new technology and equipment.
Business investment is expensive so if they can get away with meeting extra work through more labor rather than splash out on investment in uncertain economic and political times, this could be a factor,” said Howard Archer, chief economic adviser to the EY ITEM Club.

Workers are becoming less productive
That lack of investment could exacerbate an existing problem. British workers are becoming less efficient — they lag way behind their counterparts in France, Germany and other developed economies.
U.K. productivity fell for the second quarter in a row, official data showed. That means companies need to hire more people just to stand still, leaving less room for them to pay more.
Productivity has been falling throughout 2017 — this matters as rising productivity is the only sustainable route to higher wages and better living standards,” said Matthew Percival, head of employment at the Confederation of British Industry, which represents 190,000 businesses.

Firms fear a Brexit brain drain
Brexit could have another nasty side effect.
The uncertainty surrounding the rights of EU citizens living in the U.K. is making the country less attractive to foreign workers.
“The fall in net migration since the EU referendum has already put some pressure on the labor market as it heats up and this will intensify as the U.K. leaves the EU,” Selfin said.
Roughly 2.4 million EU-born workers are employed in the U.K. They play a vital role across the economy, from farming and construction to healthcare, financial services and technology.
Industry organizations have urged the government to ensure employers will be able to keep hiring EU workers after Brexit.
A report by the Recruitment and Employment Confederation showed the number of open permanent jobs grew at the fastest rate in 27 months in July, while the availability of both permanent and temporary workers fell sharply.
Morgan McKinley, a financial services recruitment company, said last week that its data on the number of job seekers show the industry is “haemorrhaging talent because of Brexit.”

Source: CNN Money

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.