Unemployment in Turkey drops to 10.4 percent

Data released has shown that unemployment in Turkey levels has dropped to 10.4 percent in the three months leading to March – better than the 11.5 percent level of unemployment in the same period in 2011.

employment in Turkey

employment in Turkey

A survey of more than 90,000 people found that the total number of unemployment in Turkey fell by 243,000 to stand at 2.721 million on a comparison of the last 12 months.

Reasons for the fall in unemployment in Turkey have been attributed to Turkey’s phenomenal economic growth in the last two years – the Turkish economy grew 8.9 percent in 2010 and a further 8.5 percent in 2011. This year Turkey looks to steady the growth to a manageable level to avoid economic troubles in the future, current plans call for a 4 percent growth of the Turkish economy in 2012.

While the rest of Europe seemingly struggles with the economic recession and the Euro troubles, Turkey is set for a continued period of growth in 2012. Many other European countries such as Spain and Italy are seeing unemployment levels rise as Europe struggles to deal with the rising problems of the Euro amidst rumours of another recession coming soon.

On the flip side, although Turkey has seen a drop in unemployment levels over the last couple years, industry experts state that figures do not represent the true levels of employment in Turkey as many people work in Turkey illegally or don’t declare that they are infact working.

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