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Turkish unemployment rate dips to 9.2% in August

by Daily Sabah with Agencies

ISTANBUL Oct 10, 2023 - 10:09 am GMT+3
People walking on stairs with the backdrop of Eminönü New Mosque, Istanbul, Türkiye, Oct. 4, 2023. (AA Photo)
People walking on stairs with the backdrop of Eminönü New Mosque, Istanbul, Türkiye, Oct. 4, 2023. (AA Photo)
by Daily Sabah with Agencies Oct 10, 2023 10:09 am

The unemployment rate in Türkiye edged down 0.2 percentage points month-over-month to 9.2% in August continuing the downrun trend for the fourth month in a row, official data showed on Tuesday.

The nation's jobless rate fell by 56,000 to 3.22 million in August on a monthly basis, according to data from the Turkish Statistical Institute (TurkStat).

It was a decrease from 9.4% in July and 9.8% in August 2022.

The unemployment rate was estimated at 7.5% for men and 12.6% for women as of August.

The number of people in the labor force was slightly up over the same period and was realized at 31.68 million, with an increase of 1,000 when compared to the previous month, TurkStat said.

"We will continue our fight against unemployment with determination by boosting employment figures more and more every day," Labor and Social Security Minister Vedat Işıkhan wrote on X, formerly Twitter.

Meanwhile, the data revealed that a seasonally adjusted measure of labor under-utilization rose 0.4 percentage points to 23.0%.

The labor under-utilization measure had largely slid since early 2021 but has edged higher in recent months.

The TurkStat data suggested the labor force participation rate in August fell to 53.3% from 53.4% a month earlier.

The youth unemployment rate, for the 15-24 age group was 17.2%, down 0.7 percentage points month-over-month in August. This rate came in at 14.2% for men and 22.7% for women.

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  • Last Update: Oct 10, 2023 4:11 pm
    KEYWORDS
    unemployment rate turkish economy unemployment labor market
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