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Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

Unemployment in Turkey in May fell to the lowest in nine years

July, 10 2023
watermark Economic news

According to official statistics, the unemployment rate in Turkey fell to 9.5% in May, which is the lowest value since 2014.


The number of unemployed amounted to 3.33 million people with a total of 31.72 million employed.


It was also announced that inflation in Turkey in June continues to slow down and reached 38.2% in annual terms, which is the lowest since December 2021.


Recall that the Central Bank of Turkey last month raised its key interest rate for the first time in two years. The rate on seven-day REPO transactions was increased by 6.5 percentage points and amounted to 15%.


The exchange rate of the Turkish lira against the dollar is currently increasing by 0.2% and amounts to 26.1029 lira per dollar, being close to the historical record.


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Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.