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Turkey Jobless Rate Rises
World Economy

Turkey Jobless Rate Rises

Turkish unemployment rose to double digits in August after months of slow economic activity and unregistered Syrian migrants entering the workforce in Turkey, Anadolu Agency reported. The unemployment rate was announced 10.1% in the August period, which comprised the figures of July, August and September, from 9.8% in the July period, and was unchanged from the same period of 2014, according to data from the Turkish Statistics Agency. The non-farm unemployment rate stood at 12.4% in August, up from 12% in July and 12.3% a year earlier, according to TUIK data, which was released on Nov. 16. Number of seasonally-adjusted unemployed persons occurred as 3.09 million without any change in the period of August 2015 compared to the previous period. Unemployment rate stands at 10.4% without any change, according to TUIK data. “We expect the unemployment rate to keep increasing in the second half of the year after a first half that saw a better-than-expected growth rates but relatively high unemployment rates.

 

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