Ankara, (Business News Report)|| Unemployment rate in Turkey recorded its best number in two years, in an indication that the Turkish economy is turning again.
Government employment programs helped a slight decline in the Unemployment rate in Turkey by 0.1%, to record 11.2% on an annual basis, the best number in two years.
The Turkish Statistical Institute (TURKSTAT) said that the number of employed rose by 236,000 workers compared to the previous month to reach 33.141 million workers. The employment rate was 47 percent, an increase of 0.3 points.
While the number of unemployed people in all of Turkey increased by 2,000 people in December compared to the previous month, bringing the number of unemployed people to 3.794 million people.
On the other hand, the unemployment rate for young people aged 15-24 decreased by 1.6 points, to 20.8%. The employment rate increased to 34.1% compared to the previous month.
Official statistics showed a decrease in the number of workers in the agricultural sector by 10,000, while the number of workers in the industrial sector increased by 108,000, in the construction sector by 5,000, and in the service sector by 134,000 workers.
The percentage of unregistered employees, which shows the share of employees without social security in total employees, decreased by 0.1 point compared to the same month last year and became 27.8 percent.
Turkish economist Khalil Ozun believes that his country’s policy of supporting enterprises, especially small and medium ones, is the most important reason for preventing an increase in the unemployment rate, which he sees as one of the most important challenges facing the government, citing the increase in employment in the industrial sector and its decline in the agricultural sector.
Ozun added: “Turkey is one of the least affected emerging countries with regard to the unemployment rate due to the Coronavirus pandemic, because the state, in addition to supporting banks and companies and preventing bankruptcy and complete closure, has provided financial aid to the unemployed in addition to an increase in major government and joint projects.”
The Turkish economy expects a decrease in the unemployment rate during the current and next two years, due to the acceleration of the implementation of major projects that will be announced during the centenary of the establishment of the state in 2023, and the arrival of investments due to the improvement of Turkish relations with neighboring countries and the Arab region.
