Turkey's Economic Pivot: A Double-Edged Sword for Job Seekers

Berkay Ucar, a young software developer in Turkey, faces dwindling hope in his job search amidst economic reforms. President Erdogan's shift to economic orthodoxy raises unemployment challenges, exacerbated by high inflation and interest rates. Analysts fear worsening job prospects as the economy slows, affecting many young job seekers like Ucar.

In Turkey, Berkay Ucar, a 24-year-old software developer from Ankara, has nearly lost hope of finding work after eight months of unsuccessful job interviews. This struggle is emblematic of a broader issue facing the nation's young job seekers, as President Erdogan's economic strategies reshape the employment landscape.

Efforts to combat inflation, particularly through sharp interest rate hikes, have complicated the situation for job seekers. According to TUIK statistics, there has been a 30% increase in people who have stopped actively searching for jobs since the economic policy shift in June 2023. Currently, there are over 2.17 million individuals in this category, while the official unemployment rate stands at 8.6%.

Turkey's economic pivot, while aimed at stabilizing inflation and enhancing exports, has posed significant challenges to the labor market. The government's measures to limit negative repercussions have yet to alleviate the growing sense of despair among job seekers like Berkay Ucar. As inflation rates remain high and industrial output declines, job prospects, especially for young professionals, continue to appear bleak.

(With inputs from agencies.)