Turkey unemployment rate falls to 13.8 percent

Turkey’s unemployment rate fell to 13.8 percent in the three months to October, the Turkish Statistical Institute said on Monday.

The jobless rate declined from 14 percent in the three months ending September, according to data on the institute's website. The rate had stood at 11.4 percent in October 2018.

Non-farm unemployment eased to 16.4 percent from 16.7 percent in September.

Turkey’s government is seeking to stimulate the troubled economy with cheap loans from state-run banks, tax cuts and lower central bank interest rates after a currency crisis sent economic growth into a tailspin last year. The government revised down its growth estimate for 2019 to 0.5 percent in its latest economic programme revealed in September. It targets expansion of 5 percent for 2020.

Youth unemployment fell to 26.1 percent, the institute's figures showed. It hit a record high of 27.4 percent in September.