Microeconomics

CHP leader says gov’t support for unpaid leave ‘important’ but will not make citizens ‘happy’

The main opposition Republican People's Party (CHP) leader has said that the government's financial aid to workers who had been laid off or put on unpaid leave is "important" but will not be enough for the citizens' living expenditures.

25 Million People will Lose their Jobs because of the COVID-19

The COVID-19 pandemic will dramatically increase global unemployment. Approximately 25 million people to lose their jobs, the United Nations said.

"The economic and labour crisis created by the COVID-19 pandemic could increase global unemployment by almost 25 million", says a new study by the International Labor Organization.

Unemployment Rate Down by 0.6 Percentage Points in Q4 2019

In the fourth quarter of 2019 there were 138.5 thousand unemployed persons, of whom 80.6 thousand (58.2%) men and 57.9 thousand (41.8%) women. The unemployment rate was 4.1%, 4.4% and 3.8% for men and women respectively. In comparison with the fourth quarter of 2018, the unemployment rate went down by 0.6 percentage points, registering the same decrease for men and women.

Fees bank can charge clients reduced

The range and the levels of fees and commissions that local banks can charge retail and commercial clients have been lowered, the Turkish Central Bank and the country's banking watchdog regulator (BDDK) have announced.

The measures will cut the various charges banks can charge financial consumers to 16 from 20, the BDDK said.

Unemployment rate decreases to 3.9pct in December 2019

The seasonally adjusted unemployment rate fell to 3.9pct in December last year, from 4pct in November, and the number of the unemployed decreased to 354,000 people, according to data from the National Institute of Statistics (INS) published on Thursday. In November 2019, the number of unemployed people aged 15-74 was 366,000, and in December 2018 - 359,000.

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