61558
Turkey Jobless at 12.7%, Youth Rate at 24%
Turkey Jobless at 12.7%, Youth Rate at 24%

Turkey Jobless at 12.7%, Youth Rate at 24%

Turkey Jobless at 12.7%, Youth Rate at 24%

Turkey’s unemployment rate hit 12.7% in December, rising by 1.9 percentage points year-on-year, while youth unemployment stood at 24%, state agency Turkstat reported.
In November, the jobless rate was at 12.1% and was already the highest in seven years, news.com.au reported.
The number of 15-24 year olds who were neither employed nor in education was at 24.8%. The labor force participation rate came in at 51.6%.
Rising unemployment has been coupled with Turkey’s worst economic slump since 2008, with growth shrinking by 1.8% in the third quarter.
The lira has also been the worst performing emerging market currency of 2017, heaping inflationary pressures on the economy and posing a headache for the country’s central bank which will make its latest monetary policy decision on Thursday.
Analysts are expecting no change to the Central Bank of the Republic of Turkey’s three main interest rates after it eased credit conditions with a rate cut in January. Still, the lira has taken a fresh blow this week after the Turkish government has been engaged in an almighty diplomatic row with the Netherlands.
Following a series of weekend spats–where Turkey’s finance minister was barred from entering the country and its family minister turned away at the border–Ankara has now refused entry to the  Dutch ambassador and blamed Dutch troops for the massacre at Srebrenica.
As tensions continue to rise between Turkey and Western Europe, an economic slump is gathering pace in the country. Foreign investment is crashing, and unemployment and inflation are hitting the masses hard.

 

Short URL : https://goo.gl/IE5ITT
  1. https://goo.gl/9mTJOA
  • https://goo.gl/7EnsTq
  • https://goo.gl/xBWfNb
  • https://goo.gl/KNu5Hi
  • https://goo.gl/TwaB2B

You can also read ...

The expected increase in the squeeze on living standards comes as the weak pound pushes up the cost of imported  fuel, food and raw materials.
All eyes will turn Tuesday to Britain’s consumer price index...
Russia FDI Almost Doubles
The volume of foreign direct investment has almost doubled in...
Bulgaria Risks Higher Inflation
Real wage growth in Bulgaria has been exceeding productivity...
The German share price index, DAX board, is seen at the stock exchange in Frankfurt.
Shares rose in Europe and Asia on Monday after leaders of...
Increase in China Factory Price Inflation
China’s factory price inflation rose again in September,...
Venezuela Needs $30b a Year to Rescue Economy
The International Monetary Fund calculates a potential rescue...
Yellen says economic growth slowed slightly in the  July-September quarter.
Federal Reserve Chair Janet Yellen sketched a bright outlook...
Japan Factory Output Up
Japan’s industrial production increased less than initially...

Add new comment

Read our comment policy before posting your viewpoints

Image CAPTCHA
Enter the characters shown in the image.

Trending

Googleplus