Recovery in the Jobs Market On the Way..?

The unemployment rate in Turkey declined to 11.9 percent in January compared to 14.5 percent a year ago.

According to data released Friday by the Turkish Statistics Institute, the number of jobless people was just over 3 million, a significant decline compared to 3.59 million in January 2010. However, the rate in December 2010 was 11.4 percent, lower than the most recent figure, indicating that signals of a stable recovery in the jobs market have not arrived yet.

According to seasonally-adjusted data, non-agricultural unemployment rate stands at 13.4 percent, having fallen from 13.6 percent a year ago.

“Sectoral data show that the rise in employment in the services sector has been effective,” said economists at the Bahçeşehir University’s Center for Economic and Social Research, in a research note. “According to data from the Kariyer.net website, non-agricultural unemployment will continue to decline in February, too.”

Seasonally-adjusted figures show that non-agricultural unemployment has been on the decline since August 2010, the economists said, adding that the rise in employment rate is moving toward to become a long-term trend.

April 15, 2011
SOURCE: TURKISH DAILY NEWS