TEPAV Data: Registered Employment in Turkey Drops by 574,000 in Four Months

Contraction in the Labor Market Continues The Employment Monitoring Bulletin published by the Economic Policy Research Foundation of Turkey (TEPAV) has revealed the impact of economic contraction on the labor market.
Slowing investments due to high interest rates and rising operating costs have led to a significant decline in registered employment.
According to the data, the total number of insured employees decreased by 79,782 compared to the previous month, falling to 25,936,000.
When examining the last four months, the total number of people who lost their jobs reached 574,000.
Although the annual increase in the group of insured wage earners continues, the monthly decrease of 125,216 people indicates a deepening stagnation in the market.
Sectoral Divergence: Losses in Textiles, Growth in Services Employment losses were recorded in 39 out of the 88 sub-sectors analyzed.
The largest contraction occurred in the clothing manufacturing sector, with a decrease of 86,513 people.
In contrast, the main sectors supporting employment were: Retail trade: 127,516 increase Education: 63,782 increase Food and beverage services: 60,469 increase Regarding employment status, a notable increase of 250,000 was observed in the number of registered farmers, while the number of tradesmen decreased by 83,594.
Istanbul Loses Ground While Ankara and Earthquake Zones Rise In city-based data, Istanbul, where the high cost of living is most intensely felt, ranked first in employment loss.
Istanbul, which hosts 26.6% of the total insured employees in Turkey, saw a loss of 28,721 jobs in the last year.
Ankara, on the other hand, became the province with the highest increase in the number of employees, with a rise of 84,268.
The capital was followed by provinces in the earthquake zone, such as Hatay, Malatya, and Kahramanmaraş, which are in a recovery process.