Turkey Jobless Rate At 50-Month Low

Turkey's unemployment rate declined for the third straight month in June to its lowest level in more than four years, data from the Turkish Statistical Institute showed on Wednesday.

The seasonally adjusted jobless rate dropped to 10.3 percent in June from 10.6 percent in May. In the corresponding month last year, the jobless rate was 10.9 percent.

Moreover, this was the lowest unemployment rate since April 2018, when it was 10.2 percent.

The number of unemployed decreased by 136,000 to 3.541 million in June from 3.677 million in May.

Meanwhile, the employment rate dropped to 47.8 percent in June from 47.9 percent in the prior month.

The number of employed decreased by 46,000 to 30.866 million in June.

The labor force participation rate came in at 53.2 percent in June, down from 53.6 percent in the previous month.

The youth unemployment rate, which applies to the 15 to 24 age group, remained stable at 20.4 percent in June.

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