Turkey Unemployment Rate at 4-Year High

Turkish jobless rate increased for the second straight month to 10.9 percent in December of 2014, reaching the highest since February of 2011 as the number of unemployed persons rose while employment fell.

The number of unemployed persons increased to 3.145 million in December from 3.096 million in November. Non-farm unemployment was 12.9 percent (12.7 percent in the previous month).

Meanwhile, youth unemployment increased to 20.2 percent from 19.9 percent in the previous month.

There were 25.642 million employed persons, down 0.89 percent from November and bringing the employment rate down to 44.7 percent. Employment shrank 3.3 percent in agriculture and 0.29 percent in the non-farm sector. Of those who were employed 19.5 percent worked in agriculture, 20.5 percent in industry, 7.1 percent in construction and 52.8 percent was employed in services.

The labor force participation rate decreased by 0.3 percent to 50.5 percent in December. Meanwhile, 28.614 million people were out of the labor force.

Turkey Unemployment Rate at 4-Year High

Turkstat | Joana Taborda | joana.taborda@tradingeconomics.com
3/16/2015 8:58:27 AM