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For the period from December to February, unemployment in Turkey reached 14.7%, noting the highest level in almost 10 years, according to official statistics. In the previous three months to January, unemployment was at the level of 13.5%. The most significant increase in unemployment was observed among young people between the ages of 15 and 24, this figure jumped to 26.7%. Experts note that the pressure on workers continues to have the consequences of the currency crisis in Turkey in 2018, when the lira fell by 30%. The decline in Turkey’s GDP in the fourth quarter was the most significant in almost 10 years. Thanks to a series of structural measures taken by the government to support the Turkish economy, inflation this year has fallen from last year’s high. A sharp decrease in the current account deficit was also recorded. However, the number of registered unemployed for 3 months increased by 1 million compared with the same period a year earlier and reached 4,670 thousand people.
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company's standalone listing in Hong Kong or Shanghai might value ...
On Friday, Caterpillar Inc (CAT.N) announced a lower second-quarter profit because of the recession caused by the coronavirus outbreak. The decline was due to lower sales volume and changes in dealer inventories. During the second quarter ...
June had seen Japan’s industrial output breaking its four-month slump. The recuperation could be attributed to a modest recovery seen in broader business and consumer activity after the world’s third-biggest economy suffered from ...
Spain’s unemployment rose to 15.33% for the second quarter of 2020, according to Tuesday’s data from the National Statistics Institute amid the worsening COVID-19 situation in the country. The unemployment rate surged past the ...
Financial markets saw record heights earlier on Friday, with the Euro continuing its 21-month gain streak and gold prices hitting its highest level amid a weakened Dollar. The Euro soared above the Dollar by 1.7%, trading at $1.1616 for the ...
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