By Dilara Zengin and Tuba Sahin
ANKARA
The unemployment rate in Turkey decreased 0.7
The number of unemployed people, aged 15 and above declined to 3.4 million this September, a decrease of 104,000 from last September
The rate was the same as in August, according to TurkStat.
The fall came after Turkey’s gross domestic product (GDP) grew by 11.1 percent in the three months to Sept. 30 when compared to the same period last year, beating expectations of the world’s leading economists.
September's employment rate rose by 1.1 percentage point, from the same period last year
The labor force participation rate was also up by 0.8 percentage point year-on-year, going up to 53.6 percent.
The number of women participating in the workforce climbed 1 percentage point from the previous year to 34.5 percent.
KapitalFX Analyst Enver Erkan said Turkey threw caution to the wind on whether this would turn into a trend of lower unemployment rates.
"Unemployment in the youth population still remains at 20 percent. We see some decline in seasonally adjusted indicators, but it must show a larger decline
Erkan noted that the government expected a 10.8 percent unemployment rate for this year and 10.5 for 2018.
"This means single digit is not expected yet," he added.
"Economic growth is way high, it is not possible to reveal productivity growth, so unemployment rate will decline very slowly in the next three to four years," Erkan said.
The bad news is that employment generated in manufacturing is very limited, Komurcuoglu said.
He added that a moderate fall in
"Yet, we are still far away from a strong fall in the unemployment rate," Komurcuoglu said.
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