Turkey’s seasonally adjusted unemployment rate highest on record in April-June period

Last updated: 17th August 2019 6:05 pm

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Turkey’s seasonally adjusted unemployment rate climbed to its highest level on record, statistical data showed on Thursday, despite a slight fall in the April-June headline figures, Reuters reported.

The seasonally adjusted rate hit 14 percent, according to Turkish Statistical Institute (TurkStat) figures, reflecting Turkey’s slide into recession after a currency crisis last year saw the lira lose nearly 30 percent of its value against the dollar.

The rate is the recorded in the statistical institute’s data going back to 2005.

Year-on-year, unemployment was up 3.1 percentage points in the April-June period, standing at 12.8 percent, the data showed.

“The number of unemployed persons aged 15 years old and over increased by 1,021,000 to 4,157,000 in the May 2019 period in Turkey compared with the same period of the previous year,” TurkStat said.

The non-agricultural unemployment rate was unchanged from a month earlier at 15 percent, it added.

TAGGED:AKP Economy Erdogan

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