Turkey Hourly Labour Costs - Forecast

Labour Costs in Turkey is expected to be 155.00 Index Points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Labour Costs in Turkey to stand at 170.00 in 12 months time. In the long-term, the Turkey Hourly Labour Costs is projected to trend around 215.00 Index Points in 2020, according to our econometric models.


Turkey Hourly Labour Costs
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Turkey Labour Last Q3/18 Q4/18 Q1/19 Q2/19 2020
Unemployment Rate 9.6 10.4 10.2 10.1 9.7 9.5
Employed Persons 29009 29500 30100 29200 29600 34600
Unemployed Persons 3086 3280 2990 3850 3200 3220
Labor Force Participation Rate 53.1 53.4 53.2 53.2 53.6 54.9
Long Term Unemployment Rate 2.3 2.2 2.4 2.4 2.5 2.8
Youth Unemployment Rate 16.9 20.1 18.9 20.2 19.5 20
Labour Costs 148 155 160 165 170 215
Wages 2207 2800 2800 3000 3000 3200
Wages in Manufacturing 155 162 167 172 178 205
Minimum Wages 2030 2030 2030 2280 2280 2530
Population 80.81 82.15 82.15 83.42 83.42 84.34
Retirement Age Women 58 58 58 58 58 58
Retirement Age Men 60 60 60 60 60 60
Wages Low Skilled 1380 1480 1480 1550 1550 1600
Wages High Skilled 2830 2950 2950 3100 3100 3200
Part Time Employment 3084 2900 2900 3200 3200 3600
Living Wage Family 2870 2910 2910 2950 2950 3100
Living Wage Individual 1720 1750 1750 1800 1800 1850
Full Time Employment 24246 26100 26100 26400 26500 28600
Employment Rate 47.6 47.9 48.4 47.1 48 51