Turkey’s unemployment to continue dropping, CB survey says

Today’s Zaman - A survey conducted by the Central Bank of Turkey has indicated that Turkey’s fight against unemployment will continue to bear fruit, as an overwhelming majority of the companies polled said the number of people they employ will either remain unchanged or increase over the next three months.

The bank announced the results of its monthly economic tendency survey on Tuesday. According to this announcement, 67.9 percent of all the 1,893 companies that participated in the survey said they will continue employing the same number of people and 25.6 percent of them noted they will hire more employees over the next three months, whereas only 6.5 percent of them expect to have fewer people working by the end of July.

The results signaled to markets that the unemployment rate in Turkey will continue to decline after government’s efforts to reduce joblessness across the country proved partly effective. Because of the global financial crisis, the unemployment rate in Turkey almost reached 15 percent in 2009, but as a result of an intensified campaign it dropped to 11 percent levels last year.
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