Unemployment in Turkey soared by 0.6 pct in October

ISTANBUL

The number of the unemployed in the country has reached 2.7 million people in October 2013. AA photo

Unemployment in Turkey soared by 0.6 percentage points to 9.7 percent in October, data released by the Turkish Statistical Institute (TÜİK) showed Jan. 15, revealing youth unemployment still remains on rise.

The number of the unemployed in the country has reached 2.7 million people with 202,000 more citizens joining the ranks of unemployment compared to last year from the same period, according to the data encompassing projection of September, October and November.

Unemployment among the non-agricultural sectors also rose 0.5 points to 11.9 percent during the same period.

On a monthly basis, the unemployment rate fell for the first time since February, as September unemployment was at 9.9 percent.

Meanwhile, unemployment among the youth, aged 14 to 15 years, rose by 1.2 percentage points to 19.3 percent.

The number of employed people in the country retreated by 0.5 percent as well, falling to 45.9.

In a comment released after announcing the figures, Odeabank said the bank predicts the unemployment rate to plunge to 9.5 percent this year with a slight drop.

“Along with that the methodology change, TÜİK plans to cause the unemployment rate to permanently fall further,” the statement read.