Turkey’s Finance Minister Reports Positive Trends in Labor Market
Turkey’s Unemployment Rate Hits Lowest Point Since 2012
Turkey’s Finance Minister Mehmet Şimşek has announced a continuation of positive trends in the labor market. According to seasonally adjusted data:
– Employment increased by 273,000 people in May and saw a rise of 1.3 million people over the last 12-month period.
– The labor force participation rate reached an all-time high of 54.5%.
– The unemployment rate dropped to 8.4%, the lowest level since November 2012.
Minister Şimşek stated, “The ultimate goal of our program is sustainable high and inclusive growth accompanied by permanent improvements in welfare. Through our resolute implementation of this program, we will reduce inflation and improve income distribution.”
Source: Ministry of Finance