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4.4 Labour and income
4.4.1 Labour market, unemployment dynamics
Turkey’s unemployment problem is just beginning. Despite all the data manipulations, the official number of unemployed people in Turkey broke consecutive records . Previous synthetic loan growth cycles did not increase employment, but ended up producing FX deposits or drawing in imports .
4.4.2 Income dynamics
The poverty threshold for a four-person household stood at Turkish lira (TRY) 7,045 ($1,179) per month as of December while hunger threshold (minimum food expenditure for a four-person family) stood at TRY2,163 and minimum cost of living for a single person was TRY2,650, according to a monthly survey by the yellow labour union Turk-Is. The monthly net minimum wage was TRY2,020 in 2019 and it was hiked to 2,324 for 2020.
23 TURKEY Country Report OUTLOOK 2020 www.intellinews.com