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Financial News: Turkey Jobless Rate Falls Unexpectedly In August

Turkey Jobless Rate Falls Unexpectedly In August

11/15/2017 - 02:25:00 (RTTNews)

(RTTNews) - Turkey's unemployment rate decreased unexpectedly in August, though marginally, the Turkish Statistical Institute reported Wednesday.

The jobless rate edged down to 10.6 percent in August from July's 4-month high of 10.7 percent. Meanwhile, economists had expected the rate to rise further to 11.0 percent.

In the corresponding month last year, the rate was 11.3 percent.

The number of unemployed people decreased to 3.40 million in August from 3.44 million in the previous month.

The youth unemployment rate that applies to 15-24 age group, rose to 20.6 percent from 19.9 percent a year ago.

On a seasonally adjusted basis, the overall unemployment rate was 10.8 percent in August versus 11.1 percent in July.

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