Skip to content Skip to Search
Skip navigation

Turkey’s unemployment rate at lowest level in 11 years

By Pramod Kumar
Turkey's overall unemployment rate stands at 8.5%, although for women it is 11.3% Reuters/Umit Bektas
The annual inflation rate reached 64.86 percent in January and increased 6.7 percent month on month

The unemployment rate in Turkey fell to 8.5 percent in October, down 0.5 percentage points month on month, its lowest level since November 2012.

The number of unemployed persons (15 years old and over) decreased by 163,000 to 2.96 million month on month. The rate was estimated at seven percent for men and 11.3 percent for women, the Turkish Statistical Institute data showed.

The unemployment rate stood at 8.4 percent in November 2012.

The labour force participation rate rose slightly to 53.1 percent from 53.2 percent a month earlier.

The youth unemployment rate in the 15-24 age group was 16.3 percent in October, falling 0.4 percentage points compared to the previous month. The rate was estimated at 13.8 percent for men and 21.0 percent for women.

Turkey’s annual inflation rate surged to 61.98 percent in November, reaching its highest level this year.

The higher inflation was due to an 11 percent climb month on month in housing-related costs, although clothing and transportation costs remained flat.

Latest articles

PIF's Starbucks shareholdings were cut almost by half from 6.3 million shares to 3.8 million

PIF slashes Starbucks stake as it cuts US stocks by $15bn

Saudi Arabia’s Public Investment Fund (PIF) has slashed its US equity holdings by 42 percent to $20.6 billion, including its stake in Starbucks, the global coffee chain that has suffered calls for a boycott as a result of the Gaza conflict. The latest US government data highlights funding challenges facing the Saudi giga-projects.  The filing […]

Tunisia olives

Soaring olive oil exports help Tunisia balance books

Tunisia’s soaring olive oil exports have almost doubled to close to $1 billion in just five months, helping it claw back its current account deficit.   However the increased revenues merely “paint over the cracks” and the country is still probably heading towards a sovereign default, according to an economic expert. Tunisia’s current account deficit narrowed […]

Iraqi prime minister Mohammed Shia Al-Sudani attends licensing rounds for 29 oil and gas exploration blocks at the oil ministry's headquarters in Baghdad

Falling oil prices deepen Iraq’s fiscal imbalances, says IMF

Iraq’s fiscal imbalances have worsened due to significant fiscal expansion and lower oil prices, according to the International Monetary Fund (IMF). “The ongoing fiscal expansion is expected to boost growth in 2024 at the expense of a further deterioration of fiscal and external accounts and Iraq’s vulnerability to oil price fluctuations,” the Washington-based fund said in […]

Saudi aluminium producer Talco is offering 12 million shares

Aluminium producer Talco announces Saudi IPO

Aluminium producer Al Taiseer Group Talco Industrial Company (Talco) is the latest entity to reveal initial public offering (IPO) plans in Saudi Arabia. The Riyadh-based company, which was set up in 2009, is offering 12 million shares, a 30 percent stake, on the Saudi Exchange (Tadawul) at a nominal value of SAR10 ($2.67) per share. […]