Jobless claims rise 472 percent in December year-on-year in Turkey

Turkey's estimated unemployment rate increased to 10.9 percent in the three months to the end of November from 9.7 in the same period last year, the Turkish Statistical Institution (TURKSTAT) said earlier on Thursday, adding that the number of the unemployed increased 385,000 to 2,687,000.

High unemployment and huge unregistered activity remain a major challenge for the Turkish government despite several years of strong growth in the wake of two severe financial crises in 1999 and 2001.

Along with other emerging market countries, Turkey has also felt the effects of the recent global crisis in the form of a weaker currency, decreasing exports and slowing growth.