Ankara
Country Director for Turkey of the World Bank Martin Raiser on Monday said Turkey stood out in Europe and the region for the performance of the labor market during and after the economic crisis.
Speaking at a report launch on Turkey: Managing Labor Markets Through the Economic Cycle organized by World Bank and Turkey's Ministry of Development, Raiser said what made Turkey more remarkable was the rate that the labor market recovered.
More than four and a half million jobs have been created since 2009 in Turkey and the rates at which jobs were created was twice as fast, said Raiser.
"Turkey has managed to double the rates at which jobs are created for economic growth after the crisis and we would like to find out better how that has happened," said Raiser.
Turkey’s labor force participation rate is low by comparison with almost every other country in Organization for Economic Co-operation and Development (OECD) countries, Raiser said.
“The target for female employment participation in the new development plan has been increased to 38 percent. That is a very encouraging and ambitious target to support Turkey in this endeavor,” said Raiser. "We would like to understand to what extent the policy contributes to these positive outcomes, to what extent they reflect the structural changes such as urbanization, education particularly amongst women that will have a lasting impact on Turkey’s labor market."
The report covers the recovery in Turkey’s labor market after the 2008- 2009 crisis, with current unemployment rates down on pre-crisis levels in contrast to many peers in Europe and among emerging markets. It also highlights policy measures taken during the crisis, such as the targeted reduction in payroll taxes for women and youth, and compares Turkey's labor market policies and institutions with international peers to distill lessons of experience in managing labor markets during the economy cycle.
