The unemployment rate in Turkey, in October 2020 decreased by 0.7 percentage points to 12.7 percent lower than the same month of 2019. Economists evaluated the published labor force statistics.
The unemployment rate in Turkey, in October 2020 2019 decreased by 0.7 points compared to the same month was 12.7 percent. In the period in question, the number of unemployed decreased by 391 thousand people to 4 million 5 thousand people. Non-agricultural unemployment rate was calculated as 14.8 percent with 0.9 percentage point decrease.
Commenting on labor force statistics, AA Finance Analyst and economist Haluk Bür Spiderçi stated that the change in the unemployment rate and the slight increase required by seasonality was in the opposite direction and that the decrease in the labor force participation rate outweighed the decrease in employment was effective in this decrease.
Stating that the number of employed in non-agricultural sectors increased by 37 thousand compared to the previous month, there was a decrease of 40 thousand in services compared to 9 thousand in construction and 67 thousand in industry, and said:
“In the adjusted data, the employment change observed in the last one-year period indicates a deterioration with a decrease of 679 thousand, 634 thousand in the services sector, 82 thousand in the industrial sector, and 97 thousand in the construction sector. On the other hand, the third quarter public employment announced last month. realizations, is 167 thousand increase in employment compared to the same period last year, reflecting the general public in the case of Turkey, non-agricultural employment in this dimension was suggesting a lack of employment will fall harder. “
Bür Spiderçi stated that the decrease in the labor force participation rate, the extension of the short-time work allowance and unpaid leave practices prevented the unemployment rate from rising.
Stating that the number of people benefiting from short-time work allowance decreased from 3.2 million in April to 927 thousand at the end of October, Bür Spiderçi said, “Those who received cash support due to unpaid leave reached 2 million 82 thousand people in the period of April-October. Loss of employment or underemployment due to applications are not reflected in the unemployment data of TURKSTAT. ” used the expressions.
Bür Spiderçi said that if these supports do not extend in the future and the effects of the pandemic continue to be seen, a more significant jump may be seen in unemployment rates.
“THE TABLE OF WORKFORCE STATISTICS IN THE COVID-19 PERIOD IS CONTINUING”
Piri Reis University Vice Rector Prof. Dr. Erhan Aslanoğlu also stated that the picture that emerged in the workforce statistics during the Kovid-19 period continued in the October data.
Stating that the decrease in labor force participation and dismissal prohibitions led to a horizontal course in the data, Aslanoğlu noted that the services sector had the highest loss compared to the previous year.
Stating that the broad unemployment rate exceeds 23 percent when those who are not in the labor force but are ready to work join, Aslanoğlu said, “Those aged 15-24 and not in education or employment are 27.6 percent. Creating the dynamics of sustainable growth and continuous education policy contributes to the solution of the problem. ” found the assessment.
Tera Investment Economist Enver Erkan stated that partial openings have provided a certain degree of stability in employment as of the third quarter of 2020, and that the pandemic factors that negatively affect the participation rate and employment rate in labor market dynamics, on the other hand, remain valid.
Stating that the continuation of measures such as dismissal ban, unpaid leave support and short-time work allowance prevent the increase in the unemployment rate, Erkan said, “Especially in the period after December, the restriction measures brought by the increasing Kovid-19 cases will cause a significant loss of employment in the service sector. short-term dynamics will depend on the impact of the pandemic and vaccination on economic activity, while long-term dynamics will depend on medium and long-term trust and investment climate. ” he spoke.
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