According to Deputy Prime Minister and State Minister for Economy Ali Babacan, Turkey largely outpaced the European Union, which it aspires to join, in terms of creating employment in the second quarter of this year.
Speaking at a forum organized by the Foreign Policy Association in New York, Babacan noted Turkey’s employment figures increased by 1.6 million and the unemployment rate dropped by 2.6 percent in the April-June period of 2010 from a year ago. At the same time, however, the total number of unemployed within the EU grew by 1.8 million in the same period according to EU statistics body Eurostat, Babacan told the audience during Wednesday’s meeting.
he impact of the global financial crisis driven by the credit crunch in the US was most keenly felt in Turkey in the field of employment last year when its jobless rate hit a record high of over 16 percent in February 2009 and was calculated at 14 percent for the entire year. However in June of this year, the rate of unemployment, one of the primary indicators of economic performance, dropped to 10.5 percent according to the latest official data. Government authorities and observers believe the sharp decline in the rate will continue through 2011 as the common expectation is that it will return to pre-crisis levels hovering around 8-9 percent in nine months at the latest.
For more: Turkey far ahead of EU in creating employment, Ali Babacan says
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