Turkey’s unemployment stabilises at 13.4%

The unemployment rate in Turkey held steady at 13.4 per cent in the period from June to August, compared to 13.9 per cent during the same period last year, official data showed yesterday.

Separate data also showed that the current account deficit rose sharply to $4.6 billion in August due to a major decline in tourism as a result of the coronavirus pandemic.

After the release of the data, the Turkish lira fell by 0.4 per cent from Friday’s closing level of 7.8930.

While the unemployment rate fell from 13.9 per cent a year earlier, the number of those employed declined by 1.254 million people year-on-year to stand at 43.5 per cent, Turkish Statistical Institute data reported recently. This is compared to 46.4 per cent during the same period last year.

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