Türkiye’s youth unemployment hits decade low, outperforms 9 EU peers

Türkiye witnessed its lowest youth unemployment rate in the past decade, at 17.4%, surpassing the performance of nine European Union (EU) countries, including Spain, Greece, Italy, Sweden, Romania, Portugal, Slovakia, Croatia and Luxembourg.

According to the Turkish Statistical Institute (TurkStat) and Eurostat, the number of unemployed individuals in Türkiye decreased by 318,000 compared to the previous year, reaching 3,264,000.

Türkiye’s unemployment rate dropped significantly to 9.4% in 2023, marking a decade-low. 31.6 million individuals were employed.

Unemployment rates across demographics in 2023

In 2023, the unemployment rate among the 15-24 age group decreased by 2 percentage points to 17.4%. With this rate, youth unemployment reached its lowest level in the past decade, compared to 16.6% in 2013.

The youth unemployment rate decreased for all genders in 2023, from 25.2% to 23.2% for females and from 16.4% to 14.3% for males.

The proportion of youth “neither in education nor in employment” within the youth population was 22.5% last year, down from 24.2% in 2022.

Monthly youth unemployment rates have also been declining. After hovering above 20% in recent years, the rate was 16.6% in January 2024.

Türkiye surpasses 9 EU countries in youth unemployment

In 2023, while youth unemployment in Türkiye was measured at 17.4%, the EU average was 14.5%, and the Eurozone average was 14.4%.

Türkiye ranked behind Spain, Greece, Italy, Sweden, Romania, Portugal, Slovakia, Croatia and Luxembourg in the youth unemployment rate.

Spain and Greece recorded the highest youth unemployment rates in Europe last year, at 28.5% and 26.7%, respectively.

Germany, the locomotive of the European economy, had the lowest youth unemployment rate at 5.8%. 

‘We support any initiative encouraging youth labor market participation’

Nezih Allioglu, President of the Youth Entrepreneurship and Governance Association, stated that decreasing the youth unemployment rate is essential for Türkiye.

Allioglu emphasized that the steps taken to increase youth employment have borne fruit, saying: “The establishment of economic stability and the increase in employment opportunities for youth paint a positive picture for the future.”

He further expressed the association’s support for any initiative encouraging youth participation in the labor market.

“The decrease in youth unemployment is not just a numerical measure. Within this framework, we should also increase the quality of the jobs where our youth are employed and their income and career opportunities. Moreover, training a qualified workforce and enhancing the competitiveness of the sectors and businesses where youth are employed is crucial for Türkiye. We trust in our youth,” he stated. 

Allioglu noted that within the scope of the “Growing Daffodils – Education Support Fund” initiated by the association, 200 earthquake victims received free education scholarships.

“We provide mentorship to our youth in education and professional life. We will continue to provide all kinds of support to our youth to enable them to look to the future with hope,” he said. 

Source: Newsroom

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