UNEMPLOYME­NT STANDS AT 14.7 PERCENT IN FEBRUARY

Dünya Executive - - OVERVIEW -

Turkey’s unemployme­nt rate stood at 14.7 percent in February this year, the country’s statistica­l authority announced May 15.

TurkStat said the unemployme­nt rate rose by 4.1 percentage points on a yearly basis.

The number of unemployed aged 15 years and older increased by 1.37 million year-on-year to 4.73 million in February.

“In the same period, [the] non-agricultur­al unemployme­nt rate came in at 16.9 percent,” TurkStat said, reporting an increase of 4.4 percentage points.

“While the youth unemployme­nt rate, including persons aged 15-24, was 26.1 percent, 7.1 percentage point increase, the unemployme­nt rate for persons aged 15-64 was 15.0 percent, a 4.1 percentage point increase,” it added.

In January, the country’s unemployme­nt rate was also 14.7 percent with 4.67 million unemployed persons aged 15 years and above, marking a 3.9 percentage point annual rise.

The number of employed in Turkey had reached 27.3 million as of February.

TurkStat said employment had fallen 811,000 on a yearly basis, bringing the employment rate to 44.8 percent, a 1.8 percentage point annual decline.

“According to the distributi­on of employment by sector, 17.1 percent were employed in agricultur­e, 19.7 percent in industry, 5.4 percent in constructi­on and

57.7 percent in services,” it said.

Recording an annual rise of 564,000, Turkey’s labor force totaled nearly 32.1 million people in February, while the labor force participat­ion rate (LFPR) was 52.5 percent.

In the same month, the LFPR was 71.4 percent for men and 34 percent for women.

Official figures also revealed that the rate of unregister­ed employment - people working without social security related to their principal occupation - was 33.5 percent in February, rising 1.3 percentage points year-on-year.

Last year, the unemployme­nt rate hovered between 9.6 percent and 13.5 percent. Over the past five years, the highest figures were seen in January and February this year, while the lowest was in May 2014 at 8.8 percent.

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