According to data released by TurkStat on Thursday, the unemployment rate in Turkey fell from 8.8% in July to 8.5% in August.
According to Household Labor Force Survey; the number of unemployed persons aged 15 years old and over decreased by 89 thousand to 3 million 55 thousand persons in August 2024 compared to the previous month. As the unemployment rate estimated 8.5% with decreased by 0.3 percentage point compared to the previous month; it was estimated 7.0% for men and 11.4% for women.
Employment rate at 49.7%
The number of employed persons increased by 78 thousand to 32 million 776 thousand persons in August 2024 compared to the previous month. The employment rate occurred as 49.7% with increased by 0.1 percentage point. In addition, this rate was 67.1% for men, 32.6% for women.
Labor force participation at 54.3%
The number of people in the labor force was 35 million 831 thousand, which decreased by 10 thousand in August 2024 compared to the previous month. The labor force participation rate was 54.3%, which decreased by 0.1 percentage point. Also, this rate was 72.1% for men and 36.8% for women.
Youth unemployment rate was 16.5%
The youth unemployment rate in the 15-24 age group was 16.5% with increased by 0.1 percentage point compared to the previous month. While this rate was estimated 13.8% for men and 21.4% for women.
Seasonally and calendar adjusted average weekly actual working hours of persons at work during the reference period estimated 42.7 hours with increased by 0.1 hours compared to the previous month in August 2024.
In August 2024, the rate of composite measure of labor underutilization consisting of time-related underemployment, potential labor force and unemployment was 27.2% with increased by 0.7 percentage point compared to the previous month. While combined rate of time-related underemployment and unemployment realized as 18.2%, combined rate of unemployment and potential labor force estimated as 18.7%.