Turkish Lira Receives New Support

Turkey’s unemployment rate fell to 12.2% in January and the labor force participation rate rose to 50% from a month ago, according to data released on Wednesday that was presented in a new form in line with international standards.

The unemployment rate was 12.6% in December and 12.8% a year ago, before the repercussions of the Corona virus swept the country. During 2020, a ban on layoffs prevented unemployment from rising, a ban that was extended to mid-May.

The new official data includes an adjusted measure in light of the seasonal factors of insufficient employment of the workforce, which rose for four consecutive months to 29.1i% n January, approaching a peak in May last year during the height of Turkey’s lockdown measures to combat Covid-19.