TODAY’S – Jobless rate at 9 pct, 2.57 mln seek work

Jobless rate at 9 pct, 257 mln seek work Turkey’s official total unemployment rate for April dropped to 9 percent from 97 percent in the previous month and the total number of people looking for work was 257 million, government data indicated on Tuesday.According to figures released by the Turkish Statistics Institute (TurkStat) on Tuesday, the unemployment rate for men and women was 84 and 10.

2 percent, respectively. Non-agricultural unemployment was at 10.

8 percent, while the youth unemployment rate, the 15-24 age group, stood at 15.5 percent.

Unemployment fell to single digits in March after reaching 10.2 percent in February.

The employment recovery in April coincided with the start of Turkey’s seasonal work. People from low-income groups, particularly in the Southeast, enter the job market in spring as they travel to western and Black Sea towns for work.

A majority of Turkey’s seasonal workers are employed in the agriculture sector Agricultural employment accounted for just over one-fifth of all jobs in Turkey for the month of April. A total of 20.

5 percent of jobs were in the industrial sector, while 73 percent were in construction and 50.9 percent were in the service sectorDespite the decline in unemployment figures, Turkey is not creating enough jobs to make a significant dent in the unemployment rate.

The figures, especially the non-agricultural unemployment rates, suggest that the overall unemployment rate will continue to increase until the end of this year The government had forecast 2014’s year-end unemployment at 94 percent while the Organization for Economic Co-operation and Development (OECD) estimates it at a much higher 98 percent.During April, 34.

8 percent of Turkey’s entire labor force worked without social security. This indicates that the problem of unregistered economic activity continues to trouble the Turkish job market.

Poor workplace safety standards result in hundreds of tragic employee deaths in work-related accidents every year The rate of unregistered agricultural sector employees was particularly high, as 81.2 percent of workers in that sector were not accumulating social security benefits.

A total of 22.3 percent of the non-agricultural labor force worked without social security.

Elsewhere, the unemployment rate in the eurozone remained at 11.6 percent in May with 18.

6 million people without jobs in the 18-country zone, according to recent figures from the EU statistics office, Eurostat. The Turkish government expects the anticipated public and private investments to cure unemployment in the following years.

According to government’s ten-year strategic plans, unemployment is expected to fall to 5 percent by 2023. This is a goal market experts are skeptical about.

Last year Turkey experienced its slowest annual job growth since the 2008 global financial crisis. Only 139,000 jobs were created from Oct.

2012-Oct. 2013, the lowest annual increase in the last 50 years.

The government suggests that 55 percent of the active population will have jobs in 2023, while unregistered employment in non-agricultural sector will fall below 15 percent.The labor force participation rate (LFPR) in April stood at just over 50.

7 percent meaning that 28.77 million people made up the total labor force in Turkey that month.

The LFPR for men and women was 71.1 and 30.

7 percent, respectively.In April, the seasonally adjusted labor force rose by 11,000 people compared to the previous year.

SOURCE: Today’s Zaman