The realities of the economic 'miracle': Turkey's unemployment rate above 10%
Turkey's February unemployment rate was 10.2 percent, a slight increase from January's 10.1 percent, according to the latest figures published on Thursday by the Turkish Statistics İnstitute (TurkStat).
The unemployment rate for women was 11.6 percent while the rate among men was slightly lower at 9.6 percent, and the total number of unemployed people in Turkey stood at 2,825,000 for the month of February. Unemployment rates among the 15-24 age group stood at 17 percent, while unemployment for the 15-64 age group was slightly higher than the overall average, at 10.3 percent.
Turkey's total employment rate stood at 44.1 percent in the month of February, 63.3 percent among men and 25.4 percent among women.
The total number of employed people in Turkey was slightly under 25 million in February, just over one-fifth, or 20.2 percent, of whom were employed in the agricultural sector. A total of 21.4 percent were employed in the industrial sector, while 7 percent worked in the construction sector. The service sector accounted for the largest segment of Turkey's labor force -- 51.3 percent of all jobs in Turkey during the month of February.
Meanwhile, figures from the Ministry of Finance indicated that the public sector labor force experienced slight growth in the first quarter of this year. The public sector labor force employed more than 3.3 million people nationwide in the first quarter of 2014, a 3.9 percent increase year-on-year.
While overall unemployment experienced a slight increase, the seasonally adjusted unemployment rate decreased slightly to 9.1 percent, down from 9.2 percent in January.
TurkStat said in a statement on its website that as of its latest report it had instituted new regulations altering certain criteria, such as providing basic market indicators for the 15-64 age group, in order to provide reports more comparable with those by the Organization for Economic Cooperation and Development (OECD) and other international organizations
- Why women are the answer to Egypt's 'faltering renaissance'
- Fully booked for post-sanctions business: Iran's five star hotels are buzzing with Western business delegations
- The source of all brain drain: Lebanon's university graduates downbeat about their future prospects
- Is Erdogan's party waging a 'holy war' against the free market economy?
- Costs and benefits: the tough economics of hosting the World Cup