Unemployment in Turkey

Turkey Unemployment | Economic News & Forecasts

Turkey - Unemployment

Although GDP figures for Q1 are still outstanding, the latest signs point to ebbing momentum in the run-up to general elections on 24 June. In May, the manufacturing PMI dived further into negative territory on lower output and new orders, while consumer and business confidence declined in the same month. In addition, in March industrial production growth moderated for the third consecutive month, despite remaining robust. On the positive side, the unemployment rate has fallen markedly so far this year in annual terms. There are, however, signs of rising imbalances, with the current account deficit ballooning in the first three months of the year on surging imports; this poses a risk to the economy, given that the deficit is financed in large part by short-term capital flows. The weaker external position has put pressure on the lira, which is down sharply since the start of the year. This is fanning inflation and putting pressure on businesses, many of which hold substantial foreign currency debt.

Turkey - Unemployment Data

2013  2014  2015  2016  2017  
Unemployment Rate9.1  11.0  11.3  11.9  11.9  

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Turkey Unemployment Chart

Turkey Unemployment
Note: Unemployment in % of active population.
Source: Statistical Institute.

Turkey Facts

Bond Yield15.69-0.09 %Jun 14
Exchange Rate4.73-0.85 %Jun 14
Stock Market94,5411.41 %Jun 14

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