Ford drives hike in car production in Romania
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Turkey's unemployment rate rose to 10.8% in January from 10.4% in December, national statistics institute TUIK announced on April 16.
However, although it was up against the previous month, the January unemployment rate was a clear improvement on the 13% seen in January 2017, which was recorded as the highest level since February 2010. Subsequently, growth that grew to faster rates than even achieved by India and China, helped curb joblessness. On April 9, Turkish President Recep Tayyip Erdogan lashed out at those who claim Turkey’s astrononomic growth rates are excessive and are indicative of economic overheating, claiming they speak out of jealousy. While doing so, he said Turkish growth was creating more just income distribution and added that he was hopeful that unemployment would soon drop below 10%.
The latest figures also showed that non-agriculture unemployment rate rose to 12.7% in January from 12.3% in December while the youth unemployment rate edged up to 19.9% from 19.2%.
The labour force participation rate declined to 52.1% in January from 52.4% in December. The participation rate was 51.5% in January 2017.
The number of unemployed rose to 3.41mn in January from 3.29mn in December. The number of employed persons increased by 1.36mn from January 2017 to January 2018.
Turkey’s employment agency plans to enable 1.25mn people to become employed over the course of 2018, Labour and Social Security Minister Julide Sarieroglu said last month.
Turkey's unemployment rate did not budge in 2017, remaining at the same 10.9% rate recorded for the previous year.
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