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Turkish Minister: Recovery in employment faster than anticipated

Posted on 14 February 2011

Date: 24/05/2010
Turkish Minister: Recovery in employment faster than anticipated

Turkey is enjoying a faster-than-expected recovery in employment following the 2009 global financial crisis, Ali Babacan, Turkish State Minister for the Economy, told the Anatolian news agency on Sunday in Ankara.

Evaluating the current developments in the markets, the minister said the government is glad to see that the recovery in employment has exceeded expectations in the past few months. “When excluding seasonal effects, Turkey’s unemployment stood at 12.7 percent in February; this number was 14.3 percent in the same month last year. The number of newly employed increased by 1.48 million between February 2010 and the same month of 2009”, he explained. Babacan said employment in the manufacturing industry increased by 293,000 in February compared to the same month of 2009, while the construction sector saw the number of its employees increase by 90,000 in the same period.

The minister also said unemployment dropped by 1.7 percent in the second month of this year compared to the same period of 2009, which is an encouraging sign. Many industrialized economies expect unemployment to rise through to the end of 2011; however, Turkey is already seeing signs of recovery, he noted.

05/24/2010 Invest in Turkey (Today’s Zaman)

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