Turkey: Unemployment Rate Falls to 9,9 Percent in April

In spite of the global crisis that has hit major economies and countries like Greece badly, Turkey does seem to have come over economic difficulties much easier than expected.

In fact, the inflation has hardly got out of control and Turkish Lira has kept its favorable position. Furthermore exports have not been effected negatively on the contrary to many developing and developed economies.

Accordingly, the Turkish Statistics Institute (TurkStat) announced on on Friday that Turkey’s unemployment rate had fallen to 9.9 percent in April, down from 12 percent in the same period of last year.

It was also reported by the institute that the employment rate for non-agricultural jobs was 12.5 percent, while youth unemployment stood at 17.9 percent.

It was recorded in the report that the number of people unemployed in the country now stands at 2.63 million and the number of those employed at 23.9 million.

Although the government in power has received much negative criticism in regards to the decline in production figures in the country and that the economy solely depends on the hot money brought by foriegners to the Istanbul stock market, it cannot be denied that AK PARTY has been able to establish an environment of confidence in the business sector, which in return reflects to economy results, somehow.

The more so, when Turkey is compared to its neighbors like Greece.

If and when Turkey succeeds to get over its political problems such as the Kurdish issue referred to as democratic opening, consisting of more freedom, ethnic rights and more welfare etc, this country will certainly be a candidate for one of the most developed and wealthiest nations in Europe and the World.

At this point, one cannot help thinking if this in fact is the reason why many global major powers have been trying to implement dirty scenarios on Turkey for decades – to waive the risk of a tough competiton from a strong Turkey in the region (and not because they are very democratic and human rights supporters and all)

15 July 2011

Editor
BUSINESS TURKEY TODAY