Turkey Jobless Rate Rises

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Monday, the Turkish Statistical Institute TurkStat announced that the jobless rate stood at 13.6% in May, up from 9.2% in a year ago. Economists were looking for a decline of 14.1%.

The number of unemployed persons totaled 3.38 million in May, larger than the 2.2 million in the previous year. Total labor force increased to 24.84 million from 24.04 million in a year ago.

Meanwhile, the labor force participation rate stood at 48.2 in May, up from 47.4 in April.

Monday, the Turkish Statistical Institute TurkStat announced that the jobless rate stood at 13.6% in May, up from 9.2% in a year ago. Economists were looking for a decline of 14.1%. (Market News Provided by RTTNews)