Turkey's Economy the Economic Indicators Research Paper

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When there is insufficient employee demands within a certain sector at the same time as an employee surplus, unemployment rises. Seasonal unemployment is created by sectors such as the hospitality and fruit picking industries, where demands for employees fluctuate according to the seasons. Finally, hidden unemployment refers to those who are not classified as unemployed, but may have been discouraged from searching for work. Turkey's unemployment rate has seen a steady decline from 2003 to 2013, with a current rate of 8.8% from about 12% early in the decade. The exception is around 2009, when unemployment spiked to a level of 16% in 2009 and just below 15% in 2010.

Inflation can be defined as the rate at which prices for goods and services increase, with a concomitant decrease in general purchasing power for such goods and services. The inflation rate is calculated by means of the consumer price index over time. Comparing these values result in a percentage, indicating the variation of CPI over time. For Turkey, the inflation rate shows a rapid decline from 30% in 2003, while it has remained fairly stable between 5% and 10% over the rest of the decade.

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When examining the GDP of Turkey, a graph from www.tradingeconomics.com reveals a steady growth rate of between 0.18% and 1.6%. There has been steady growth over time, with the only exception being between 2009 and 2010, when there was a major decline in GDP per capita. The years 2008 and 2009 saw a slight decline in GDP.

For Turkey, the employment rate and GDP show a closer relationship than inflation with either. This suggests that higher production rates create a higher potential for employment. Hence, policymakers would do well to examine these relationships closely for information on how to increase both employment and GDP in the country......

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