Turkey’s unemployment grew slightly in December despite economic recovery: report

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Turkey’s unemployment rate rose to 13.7 percent in December from 13.3 percent a month earlier, official data showed on Tuesday, despite a pick-up in growth as the economy accelerated out of recession last year, Reuters reported.

The major emerging market economy rebounded strongly in the fourth quarter from a recession triggered by a currency crisis in 2018.

The crisis also led to a jump in unemployment to a 10-year high of 14.7 percent in the first quarter of last year. Since then it has dipped a bit but remained elevated.

Turkey’s unemployment rate stood at 13.5 percent in the same period a year earlier. In the latest period the labor market participation rate fell to 51.8 percent, from 52.5 percent a month earlier.

The non-agricultural unemployment rate rose to 15.8 percent in December from 15.4 percent a month earlier, according to the Turkish Statistical Institute.

Turkey’s seasonally adjusted unemployment rate fell to 13.1 percent from 13.2 percent a month earlier.

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