Türkiye's Vice President highlights single-digit unemployment despite June increase

Despite the rise, the unemployment rate has stayed in single digits, a point Yılmaz highlighted while evaluating the latest labor force statistics from the Turkish Statistical Institute (TurkStat).

In a statement on social media platform X, Yılmaz attributed the June increase to specific temporary factors, including the school holidays and the extended 9-day Eid al-Adha holiday. He emphasized that these seasonal effects, combined with tightening policies during the disinflation process, influenced the rise in unemployment.

Yılmaz assured that the government is closely monitoring the short-term impacts of disinflation on growth and employment, and is implementing measures to mitigate these effects. The government’s strategy includes selective loans, incentives for real sector investments, and policies aimed at improving the investment climate. Additionally, efforts are being made to prioritize exports, vocational training, and labor policies to boost employability.

"Our aim is to achieve balanced growth within stability, improve employment opportunities, and permanently increase social welfare through people-oriented and inclusive development," Yılmaz stated. He further emphasized that, while balancing the fight against inflation and economic growth poses challenges, these objectives are aligned in the medium to long term. Yılmaz concluded that price stability is crucial for fostering sustainable growth by enhancing predictability and confidence in the economy. (ILKHA)