UPDATE 1-Turkish July-Sept unemployment rate rises to 13.4 pct - News

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UPDATE 1-Turkish July-Sept unemployment rate rises to 13.4 pct

By: AFX | 16 Nov 2009 | 04:01 AM ET

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ISTANBUL, Nov 16 (Reuters) - Turkey's unemployment rate rose to 13.4 percent in the July-Sept period from 12.8 percent in the June-August period, the Turkish Statistics Institute said on Monday. The unemployment rate, measured on a three-month moving average, was 10.2 percent between July and September of 2008, the statement said on the institute's website. The seasonal effects of Turkey's large agricultural sector that mitigated Turkey's unemployment over the summer months generally subside following the harvest. Turkey's economy has sunk deep into recession this year, contracting 13.8 percent in the first quarter and 7 percent in the second quarter. Many companies have cut output and laid off workers as foreign and domestic demand fell, prompting the government to implement stimulus measures to encourage job creation. Unemployment among the youth, that make up a large portion of Turkey's population, was 23.5 percent in the July-September period, up from 19.7 percent in the same period a year earlier. (Editing by Andy Bruce) Keywords: TURKEY ECONOMY/JOBLESS (thomas.grove@reuters.com; Telephone: +90 212 350 7051; Reuters Messaging: thomas.grove.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.

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