Economy Turkey: Unemployment rate down 0.1 percent in Oct. 2014

Turkey: Unemployment rate down 0.1 percent in Oct. 2014

Turkish Statistical Institute
Turkish Statistical Institute

(AA) – Turkey’s unemployment rate declined by 0.1 percentage point in October 2014 compared to the previous month, the Turkish Statistical Institute said on Thursday.

The rate remained at double-digit levels for the third month in a row as Turkish economic growth slowed to 1.7 percent in the third quarter of 2014.

“The number of unemployed people aged 15 years old and older has reached as 3.043 million people in the period of October 2014 in Turkey. Unemployment rate stands at 10.4 percent,” the institute said in a report on its website.

The jobless rate for men was 9.1 percent and 13.6 percent for women for the month of October, according to report.

The rate of economic growth in Turkey’s was 4.8 percent in first quarter of 2014, but slowed in second quarter to 2.2 percent, and dropped to 1.7 percent in the third quarter. It was 4.2 percent in the same period of 2013.

Government officials believe Turkey should grow over 5 percent annually in order to keep a tight rein on unemployment figures.