Unemployment in Turkey

Turkey Unemployment | Economic News & Forecasts

Turkey - Unemployment

The Turkish economy continued to flag at the start of the year. Consumer credit growth eased to a decade low in Q1 2019, while retail sales continued to contract in the first two months of the year. Consumer spending felt the pinch from high unemployment, depressed confidence levels, still-elevated inflation and a weak currency. Moreover, the manufacturing sector remained in a tough spot as reflected by its weak PMI reading throughout Q1 and April. Against this backdrop, the government announced new reforms in early April in an attempt to stimulate the economy. In more positive news, tourism income rose robustly in the first quarter of the year as the number of visitors increased noticeably from a year earlier, likely aided by the starkly cheaper lira. Meanwhile, the trade deficit narrowed as imports continued to fall sharply through March in tandem with the plunging lira.

Turkey - Unemployment Data

2013  2014  2015  2016  2017  
Unemployment Rate9.1  10.0  10.3  10.9  10.9  

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Turkey Unemployment Chart

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

Turkey Facts

Bond Yield19.67-0.09 %May 13
Exchange Rate6.06-0.85 %May 13
Stock Market86,2831.41 %May 13

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