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Unemployment Rate Falls to Multi-Year Low

TURKEY
  • Turkey’s adjusted unemployment rate fell to 9.1% in September from 9.2% in August, according to the Turkish Statistical Institute, its lowest level since at least January 2020. The number of jobless fell by 46K from the previous month to 3.17m, while the participation rate stands at 53.2%.
  • Turkey's seasonally and calendar adjusted industrial production fell 0.1% m/m in September versus -0.8% in August. The yearly figure rose 4.0% y/y (Est: +2.8%) versus +3.1% prior.
  • “Constitutional Court has unfortunately been making many mistakes,” President Erdogan is noted to have said as per Bloomberg, signalling that he’s siding with the Court of Cassation which announced criminal complaints against members of the top court.

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