UNEMPLOYMENT RATE STANDS AT 12.9%

The unemployment rate fell to 12.9%, a 0.4-point decrease in November 2020, compared to the same month of the previous year, according to the Turkish Statistical Institute (TurkStat). The number of unemployed people aged 15 and over decreased by 303,000 to 4,005,000 in this period. The unemployment rate stood at 12.7% in October 2020. Meanwhile, the non-agricultural unemployment rate also decreased by 0.6 points to 14.8% in November 2020. The employment rate, meanwhile, fell by 2.7 points to 42.9% with the number of employed people decreasing by 1,103,000 to 27,066,000, compared to the same month of the previous year. Labor force participation fell to 49.3%, a 3.2-point decrease in the same period.