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Signs indicate a gradual slowdown/normalization of the labor market, with NIFB survey trends suggesting no acceleration in employment, alongside lower Job openings and quits indicating slower wage growth.
Despite the labor market's resilience, the slowdown in job creation in 2023 is reflected by the 2.7 million additional jobs, considerably fewer than the previous year. The unemployment rate in December remained at 3.7%, largely explained by the decline in the labor force.
Türkiye has the lowest female labor force participation rate amongst OECD members, where women constituted almost half of the male labor force participation. We compute a Conservatism Index to confirm that regions in Türkiye with higher conserv…
At the beginning of the pandemic, the jobs of Mexican migrants in the US contracted by 20%, but they are already 3.2% above pre-pandemic levels. However, the labor participation rate is at 66%, lower than pre-pandemic levels (68%); and the unem…
In December, the national unemployment rate was 11.0% and the urban unemployment rate was 11.6%, lower by 2.4 and 4.0 percentage points, respectively, than in December 2020, but higher than in December 2019.
