Unemployment on the downfall

Published 16.11.2012 10:16
Updated 16.11.2012 10:21

Unemployment rates in August decreased by 0.4 percent compared to the same time frame the year prior, dropping to 8.8 percent.

According to data from the Turkish Statistical Institute, the number of unemployed throughout Turkey dropped by 76,000 people settling at a total of 2,445,000 without jobs. Throughout Turkey there is now 50.7 percent contributing to the work force.

Remarking on the unemployment figures, Finance Minister Mehmet Şimşek said, "Over the past year in our country, we have provided 483,000 additional jobs. Since 2007, we have created 4.6 million additional employment opportunities."

Lowest account deficit in nine months…

At 2.7 billion dollars, the current account deficit for September was lower than anticipated. The account deficit over the past nine months has dropped by 21.2 percent regressing to 39.3 billion dollars. In September alone, 4.786 billion dollars in hot money was brought in while nearly two billion dollars in unspecified funds entered the country. In the first nine months of the year, the amount of hot money to enter Turkey reached 25 billion dollars. Explaining that Turkey's account deficit has regressed over the past 11 months, Minister of Economy Zafer Çağlayan says, "The drop in the account deficit is due to the 15.7 billion dollars in exports."

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