Posted on 15 July 2011
According to the latest data from Turkstat Turkish unemployment has fallen into single figures for the first time since July 2008, falling 2.1 points from April 2010 to stand at 9.9% for April 2011.
The data shows that 2.6 million people were registered unemployed in April 2011, compared to 3.07 million in April last year. As of April this year 23.9 million people were in employment, compared to 22.5 million in April 2010. Unfortunately youth unemployment is still high at 17.9% but this is representative of the fact that Turkey has a predominantly young population.
Unemployment has always been one of Turkey’s biggest problems, but as it continues to fall rapidly this is becoming less and less true. Turkish unemployment is now comparable with that of the UK at 7.7%. This is also true because the numbers are very similar, 2.45 million people are now unemployed in the UK, compared to 2.6 million in Turkey.
As we have just covered on this blog, Turkey is now the fastest growing economy in the world, and of course falling unemployment is a completely expected by-product of strong growth. So in this the future should see unemployment continuing to fall in Turkey.