Yesterday the unemployment rate for March is announced in Turkey.
It is officially 15,5%.
Earlier today i heard on radio that one minister claimed that there have been 3000 newly unemployed in Bursa city last month. However independent research tells that it is more than 8000 only in Bursa.
The number of unemployed people now officially makes the second largest city in Turkey. What would happen if all these people riot at the same time i can not imagine.
Another issue is the rise in real estate. The number of people who makes living on rents is doubled since last year. That means that people do not take risks for opening new business, they simply go and buy houses and rent them out. This option is also risk free.
The two facts can create this assumption; Unemployment will continue to rise, and the real estate is not getting much cheaper in the upcoming year. This is bad news for me as i am trying to buy a decent house.
Unemployment has the tendency to raise crime rate as well. One good effect can be the return to villages from big cities and a move towards stability in agricultural production.