What Happened: Turkey's unemployment rate in December 2018 increased to 13.5 percent, while the country's youth unemployment rate is at 24.5 percent, according to a March 15 report by the Turkish Statistical Institute.
Why It Matters: Turkey's unemployment data for December 2018 shows the highest monthly jobless rate since 2009, underlining the country's economic struggle in the fourth quarter of 2018. Economic strain is a major concern of voters, which could have a political impact for the Turkish government in upcoming municipal elections.
Background: Turkey's struggle with unemployment partly stems from the country's currency crisis in summer 2018, which has contributed to a slowdown in domestic consumption and a chill on domestic and foreign investor sentiment.
- Turkey's Economic Woes Dog the Government Ahead of Polls (Feb. 18, 2019)
- Counting the Cost of Potential U.S. Action Against Turkey (Feb. 4, 2019)
- As Turkey Enters 2019, Its Economic Woes Are Never Far Away (Nov. 28, 2018)