Unemployment Dropping in Turkey to The Lowest Level Since 2018

According to data, unemployment in Turkey decreased to 12.7% in the third-quarter ending in September, as the economic movement accelerated between the first and second waves of the Coronavirus.

The unemployment rate is the lowest since the end of 2018, when the currency crisis pushed the economy into recession. Unemployment was recorded at 13.2% a month ago and 13.8% a year ago, according to the Turkish Statistical Institute.

The economy rebounded strongly from a 10% contraction in the second quarter, but the pandemic continues to put pressure on workers who remain on the workforce thanks to a ban on layoffs. The fallout from a new spike in coronavirus infections has slowed growth again.

While the labor force participation rate stabilized above 50% in the period from August to October, the number of those who are reluctant to look for work rose to 1.4 million, an increase of 71,000 compared to a month ago and more than doubled compared to last year. .