Unemployment in Turkey has reached its highest level in almost 10 years

For the period from December to February, unemployment in Turkey reached 14.7%, noting the highest level in almost 10 years, according to official statistics. In the previous three months to January, unemployment was at the level of 13.5%. The most significant increase in unemployment was observed among young people between the ages of 15 and 24, this figure jumped to 26.7%. Experts note that the pressure on workers continues to have the consequences of the currency crisis in Turkey in 2018, when the lira fell by 30%. The decline in Turkey’s GDP in the fourth quarter was the most significant in almost 10 years. Thanks to a series of structural measures taken by the government to support the Turkish economy, inflation this year has fallen from last year’s high. A sharp decrease in the current account deficit was also recorded. However, the number of registered unemployed for 3 months increased by 1 million compared with the same period a year earlier and reached 4,670 thousand people.

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