Macro Indicators

1/16/2017

Unemployment Rate Reached 11.8 Percent as of October 2016

Youth unemployment rate realized as 21.2 percent with an increase of 1.9 points…

Turkish Statistical Institute (TÜİK) disclosed the unemployment data for the month of October 2016. The number of unemployed people at an age of 15 and over reached 3 million 647 thousand overall Turkey increasing by 500,000 people in October 2016 compared to the same period last year. The unemployment rate on the other hand realized as 11.8 % increasing by 1.3 percent.

Non-agricultural unemployment has been estimated as 14.1 percent for the same period increasing by 1.5 percent. Youth unemployment rate (the age group between 15 and 24 years) realized as 21.2 percent with an increase of 1.9 points.

The number of employed people reached 27 million 267 thousand in the period of October 2016 increasing by 411,000 compared to the same period last year, with an employment rate of 46.2 percent displaying no changes. 19.5 % of employment realized in the agricultural sector, 19.4 % in the industrial sector, 7.6 % in the construction sector and 53.6 % in the services sector. When compared with the same period last year, the share of employed people in the agricultural sector decreased by 0.9 percent with a decrease of 0.6 percent in the industrial sector with no changes in the construction sector. The share of the services sector on the other hand increased by 1.6 percent.

The employment participation rate realized as 52.4 % increasing by 0.8 points compared to the same period last year. The male employment participation rate realized as 72.1 % increasing by 0.2 percent and the female employment participation rate realized as 33.1 % increasing by 1.3 percent.