Turkish unemployment rises to highest in 17 months

Turkey’s unemployment rate climbed to 11.1 percent in August, the highest level since March las year.

The jobless rate rose from a revised 10.6 percent in July, the Turkish Statistical Institute said on its website on Thursday.

Economic activity in Turkey is slowing sharply after the lira slumped by about a third against the dollar this year, pushing up inflation and interest rates. Consumer and business confidence is also in decline, with the outlook for the job market worsening as a result.

Non-agricultural unemployment rose to 13.2 percent from 13 percent in July, according to the data. Youth unemployment increased to 20.6 percent from 19.9 percent.

Turkey unemployment