2011.01.1704:53:00UTC+00Turkish Consumer Morale, Jobless Rate Drops

Turkish consumer confidence indicator dropped in December, while the rate of unemployment edged down in October.

According to results of the latest consumer confidence survey, the sentiment indicator dropped to 90.99 in December from 91.34 in November, Turkstat said on Monday.

The statistical agency said the decline was led by deterioration in consumers' assessments concerning their purchasing power in the next and present period, general economic situation in the next period and buying time condition of durable goods in the present period.

The global financial crisis left higher number of unemployed in Turkey. However, the country's labor market situation has improved markedly from 2009.

Figures released by statistical agency showed today that the not-seasonally adjusted jobless rate decreased to 11.2% in October 2010 from 13% in October 2009. It edged down from 11.3% recorded in September 2010.

The number of unemployed decreased by 398,000 year-on-year to 2.9 million persons. On the other hand, the number of employed increased to 22.97 million from 22.01 million in October 2009. Consequently, the employment rate climbed to 43.5% from 42.4%. Non-agriculture employment increased by 600,000.

The Turkish economy expanded 5.5% annually in the third quarter, much slower than the 10.2% growth in the second quarter. The country's government expects the economy to expand by 6.8% in 2010 and 4.5% in 2011.