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Russian Ministry of Defense: 37 Ukrainian drones destroyed in 4 hours over regions of Russia and the Black Sea.
Sheikh Qassem: Our supporters make up more than half of Lebanon's population, and all of these people are united under the banner of protecting Lebanon, its Resistance, its people, and its integrity.
Sheikh Qassem: There will be no phased handing in of our arms. [The Israelis] must first enact the agreement before we start talking about a defensive strategy.
Sheikh Qassem: Be brave in the face of foreign pressures, and we will be by your side in this stance.
Sheikh Qassem: Stripping us of our arms is like stripping us of our very soul, and this will prompt us to show them our might.
Sheikh Qassem: We will not abandon our arms, for they gave us dignity; we will not abandon our arms, for they protect us against our enemy.
Sheikh Qassem: The US efforts we are seeing are aimed at sabotaging Lebanon and constitute a call for sedition.
Sheikh Qassem: If you truly want to establish sovereignty and work for Lebanon’s interests, then stop the aggression.
Sheikh Qassem: The United States, which is meddling in Lebanon, is not trustworthy but rather poses a danger to it.
Sheikh Qassem: The United States is preventing the weapons that protect the homeland.

Turkey achieves 10-year low unemployment rate in 2023

  • By Al Mayadeen English
  • Source: Agencies
  • 25 Mar 2024 12:34
2 Min Read

The employment rate shows a positive trajectory, rising to 48.3%, indicating a 0.8 percentage point increase from 2022.

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  • Mahmoud Pasha area, one of the largest textile shopping centers in Istanbul, Turkey (AFP)
    Mahmoud Pasha area, one of the largest textile shopping centers in Istanbul, Turkey (AFP)

Turkey experienced its lowest unemployment rate in a decade in 2023, with figures dropping to 9.4% from 10.4% in 2022, as per official data released by the Turkish Statistical Institute (TurkStat).

According to TurkStat, the number of unemployed individuals decreased by 318,000 to 3.26 million compared to the previous year.

Employment numbers saw a rise, with 31.6 million individuals employed, marking an increase of 880,000 compared to 2022.

The employment rate also saw a positive trend, reaching 48.3%, reflecting a 0.8 percentage point increase from the previous year.

The labor force in 2023 amounted to 34.9 million, resulting in a labor force participation rate of 53.3%.

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For the youth population aged 15-24, the unemployment rate was 17.4%, indicating a decrease of 2 percentage points compared to the previous year. This comes shortly after Turkey's central bank increased its key interest rate to control surging inflation.

Last Thursday, the Central Bank of Turkey announced a hike in the policy rate, also known as the one-week repo auction rate, from 45% to 50%. This decision was prompted by February's inflation figures, which exceeded expectations.

The bank stated in a press release that while imports of consumption goods and gold had slowed down, leading to a slight improvement in the current account balance, recent indicators suggest that domestic demand remains robust.

It is worth noting that S&P Global Ratings upgraded Turkey's credit rating outlook last September, citing the effectiveness of Turkish President Recep Tayyip Erdogan's new economic team and their adoption of more conventional policies.

The outlook on the nation's long-term foreign-currency issuer default rating has been changed from negative to stable, with the credit rating affirmed at B, which remains five notches below investment grade.

Read next: As Turkey heads to local elections, Erdogan eyes Istanbul comeback

  • Turkey
  • Recep Tayyip Erdogan
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  • Turkish lira
  • Turkey economy

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