Unemployment in Turkey

Turkey Unemployment | Economic News & Forecasts

Turkey - Unemployment

Recent indicators suggest the economy slowed sharply in the third quarter. Consumer and business confidence continued to plummet in September and are now both firmly in negative territory, while in the same month the manufacturing PMI sank lower on stronger contractions in output and new orders. Moreover, annual retail sales growth reached an over one-year low in July. Retail sales likely softened further in the remainder of Q3, on higher inflation and weaker sentiment. On the plus side, the gaping current account deficit has begun to narrow thanks to the weaker currency and softer domestic demand. This comes after recent figures show that growth held up well in the second quarter, buoyed by a stronger external sector, a pre-election government spending boost and robust private consumption. On the political front, in late September Treasury and Finance Minister Berat Albayrak, presented the much-anticipated New Economic Plan, which sets out a more constrained fiscal stance and far lower growth forecasts.

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 Yield17.80-0.09 %Oct 16
Exchange Rate5.69-0.85 %Oct 16
Stock Market98,4661.41 %Oct 16

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