TURKSTAT Announced The Unemployment Figures

TURKSTAT announced the unemployment figures. Unemployment rate was 12.7 percent in October. Labor statistics of October 2020 are announced by the Turkish Statistical Institute (TURKSTAT). According to the data, overall number of unemployed aged 15 and above, decreased by 391 thousand persons compared to the same period of the previous year in October 2020 and was 4 million 5 thousand people. In the same period, the unemployment rate decreased by 0.7 points and became 12.7 percent. Non-agricultural unemployment rate decreased by 0.9 points and was recorded as 14.8 percent. In the said period, the youth unemployment rate, which includes the 15-24 age group, decreased by 0.4 points and became 24.9 percent. The unemployment rate was determined as 13 percent in the 15-64 age group with a 0.7 point decrease. The number of employed people was 27 million 447 thousand people with a decrease of 896 thousand people in October last year compared to the same month of 2019, and the employment rate was 43.6 percent with a decrease of 2.3 points.   Employment Rises in the Construction Sector In the mentioned period, the number of employed people decreased by 242 thousand in the agricultural sector, 82 thousand in the industrial sector, 684 thousand in the service sector, while increased by 110 thousand people in the construction sector. Of the employed, 17.6 percent were in agriculture, 20.3 percent in industry, 6.4 percent in construction and 55.7 percent in the service sector.   Labor Force Participation Rate Decreased The workforce decreased by 1 million 288 thousand people in October 2020 compared to the same period of the previous year, and 31 million 452 thousand people, the rate of participation in the workforce decreased by 3 points and was recorded as 50 percent. The proportion of unregistered employees, showing the share of those who are not affiliated to any social security institution, in total employees decreased by 3.9 points in October last year compared to the same period of the previous year and became 31 percent. The rate of unregistered workers in the non-agricultural sector was 19.9 percent, down 3.6 points compared to the same period of 2019. Unemployment, not based on seasonal effects, increased by 0.1 points to 12.9 percent in October 2020 compared to the same month of the previous year. The number of unemployed increased by 39 thousand people compared to the previous period and reached 4 million 13 thousand people. The employment rate not based on the seasonal effect was 43.2 percent with a 0.1 point decrease compared to the previous period. The number of employed people increased by 1000 and was estimated at 27 million 191 thousand people. The labor force participation rate, which is not based on seasonal effects, did not change compared to the previous period and was determined as 49.6 percent. The number of people participating in the workforce increased by 40 thousand people and reached 31 million 204 thousand people. According to economic activity, employment not based on seasonal effects increased by 6 thousand people in the agricultural sector, 67 thousand in the industrial sector, while 2 thousand people in the construction sector and 70 thousand people in the service sector.