Turkish economy manages to rein in unemployment rate, TurkStat reports
ANKARA – The Turkish unemployment rate dropped slightly in November 2015 compared to October 2015, the Turkish Statistical Authority reported Monday.
Unemployment rate was month-on-month at 10.5 percent and down 0.2 percentage point year-on-year. This indicated that the employment rate was witnessing an improvement, TurkStat said.
The unemployment rate has seen an upward trend since May last year, starting its move from 9.3 percent in May to pause at 10.5 percent in October and November.
According to the report, the number of employed people aged 15-years-old and above was at 26.676 million in November 2015, which was an increase of 802,000 people compared to the same period in 2014.
Also, the employment rate was at 45.8 percent in November, up 0.7 percent from a year earlier.
Labor force participation rate was 51.2 percent, up 0.7 percent or 801,000, proving the resilience of the Turkish economy. The increase in labor force participation rate was led by females with 1.1 percent year-on-year, while participation rate of males was only 0.3 percent.