Turkey Jobless Rate Climbs More Than Expected To 20-Month High

Turkey’s unemployment rate increased more-than-expected in August to the highest level in twenty months, figures from the Turkish Statistical Institute showed Tuesday.

The jobless rate rose to 11.3 percent in August from 10.7 percent in July. Economists had expected the rate to climb to 11.1 percent.

The latest unemployment rate was the strongest since January 2015, when it marked the same 11.3 percent.

The number of unemployed people grew to 3.49 million in August from 3.32 million a month ago.

The labor force participation rate came in at 52.6 percent in August, down slightly from 52.7 percent in the preceding month.

The seasonally adjusted jobless rate also increased to 11.4 percent in August from 11.2 percent in the prior month.

The material has been provided by InstaForex Company – www.instaforex.com

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