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

Investor Tim Draper told AGBI the US must 'swing back to freedom' to avoid losing innovation to countries such as the UAE

Tim Draper: UAE benefits from US crypto ‘overregulation’

Billionaire venture capitalist Tim Draper has criticised the US for its restrictive stance on cryptocurrency, claiming it is driving innovators towards more encouraging and friendlier markets such as the UAE. The Gulf state is actively developing regulatory frameworks to lure new forms of business, amid intense regional economic competition. Dubai and Abu Dhabi have set […]

A subsidiary of Banque Misr will open the first digital-only bank in Egypt this year

Egypt to open first digital bank later this year

Misr Digital Innovation will open Egypt’s first digital bank towards the end of the year, as it looks to appeal to the North African’s country’s younger and unbanked demographic. MTI, a subsidiary of Banque Misr, is the first bank to have received approval to establish a digital bank by the Central Bank of Egypt (CBE) […]

Mukesh Ambani, chairman and managing director of Reliance Industries which will receive the investment from AIDA and US-based KKR

Abu Dhabi’s ADIA invests in Indian warehouses

The Abu Dhabi Investment Authority (ADIA) and the US-based private equity firm KKR have invested INR 12,000 crore ($1.5 billion) in India’s Reliance Retail Ventures’ warehousing assets.  Both companies have invested equal amounts in Reliance Logistics and Warehouse Holdings (RLWH), The Economic Times, an Indian financial daily, reported, citing informed sources.  RLWH was established in […]

Saudi Arabia’s industry and mineral resources minister Bandar Al-Khorayef. The country is struggling to meet an FDI target of $100bn a year by 2030

Saudi industry minister tempts investors with funding incentives

Saudi Arabia’s ministry of investments and mineral resources is prepared to finance up to 75 percent of industrial projects in the country, as the kingdom tries to boost its low foreign direct investment (FDI) numbers.  Bandar Al-Khorayef, the minister of industry and mineral resourcespointed to well-developed infrastructure across 36 industrial cities, prefabricated factories ready to […]