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Turkey Receives Good News on Unemployment Figures

Posted on Jul 21 2012 by spotblue

Turkey’s unemployment rate declined by nearly one percentage point in April, falling to 9% according to monthly figures released by the Turkish Statistics Institute. It’s predicted the unemployment rate will decline even further during the summer months as more seasonal jobs come online, helping those who are currently unemployed.

The economy minister Zafer Caglayan is hopeful that the figures for May will be even better. These latest figures are just a little over the five-year low of 8.8% which was achieved in September last year. Although unemployment rates are expected to decline during the summer months, they are being predicted to rise again in the autumn as some of these seasonal jobs disappear.

In spite of this experts feel this decline is a hopeful sign that the Turkish economy is maintaining its positive outlook in spite of the continuing euro debt crisis and the weak global economy. The European Union is Turkey’s main trading partner. At the height of the global crisis in 2009 the unemployment rate in Turkey rose above 15% so it has declined by more than a third since that time.

The latest figures also show youth unemployment declined in April down to 16.7% compared to 17.9% in April last year. Non-agricultural unemployment is considered to be a key indicator on how the economy is performing, and in April it was 11.1% compared to 12.5% a year earlier. Figures for April show Turkey’s labour force consisted of 27 million people, up from 26.5 million in April last year. Some 2.4 million were unemployed during this month.

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