Istanbul — Look beyond unemployment to get a read on Turkey’s labour market.
The government’s measures only limited employment losses “on paper”, according to a report by Istanbul’s Bahcesehir University Centre for Economic and Social Research. Still, as parts of the economy shut down to contain the contagion, the government banned layoffs for six months from March 10 and offered a 1,177-lira monthly allowance to those placed on leave by their employees.
The headline figures also leave out the millions of people who are effectively out of a job but cannot be fired due to the layoff ban. The costs are now adding up.
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