Pocket money lifeline: Turkish youth survives with family support
Turkish youth among those crowding a metrobus station, in Istanbul, Türkiye, Jan. 2, 2024. (AA Photo)
Rent, tea and a social life, all on a budget of around $75 … That is what the Turkish youth says it is facing every day, living on the edge of the international poverty threshold, supported by allowances they get from their families. So, what is really going on?
Firstly, the numbers: A recent survey by Turkish startup Youthall focusing on “Youth Expectations and Tendencies” reveals that the top issues among Turkish youth are economic independence, anxiety about the future and work-life balance.
According to Youthall’s survey, of the 2,627 young participants, 70.1% of them are trying to live on an income below ₺5,000 ($145) per month, while 64.1% make ends meet with the financial support they receive from their families.
Turkish youth struggle with loss of control over their lives
The main theme among Turkish youth is a lack of control over their economic independence. This is a major concern, leading to mental stress. Around 73.1% of Turkish youth feel that while they have some control over their lives, external factors have a greater impact. The figure has increased by 80% compared to the previous year, indicating that an increasing number of young people feel they are losing control of their lives.
A deeper look into the figures reveals that over half of those earning less than ₺5,000 per month actually earn less than ₺2,500 ($75), which is only slightly above the international poverty line of approximately $65.
According to the survey, state scholarships and student loans are the primary sources of income for most Turkish youth, with 46.1% relying on one or both. Despite living near the poverty line, only 22.5% of Turkish youth are attempting to supplement their income with part-time jobs, hindering their ability to achieve economic freedom.
Just around a third of the country’s youth (35.5%) is hopeful about the future.
New motives behind jobs, careers
The priorities of Turkish youth in job seeking have shifted away from solely focusing on high salaries. Compared to previous years, a growing number of young people, now at 53.7%, prioritize a healthy work-life balance, while 48% seek jobs with flexible working conditions.
Money is not totally forgotten of course, with around 44.6% considering salary levels as an important criterion.
Among recent graduates entering the workforce, nearly 60% are dissatisfied with their income. Over 70% of these graduates plan to change jobs, or even their field of work entirely, within the next year.
Amid this environment, youth unemployment in Türkiye currently stands at 16.3%, as reported by the Turkish Statistical Institute (TurkStat) in August.
According to Youthall’s survey, over half of the young participants desire to move abroad to pursue educational opportunities, enhance their language skills, and gain cultural experiences. A significant portion believes that better living conditions and higher value for labor exist outside of Türkiye.
A previous survey conducted back in August, had similar numbers (40%) in terms of Turkish youth planning to move abroad.
It’s worth noting that TurkStat reported in August that Türkiye’s youth population, already lower than the global average of 15.5%, may decrease significantly to around 9.66% by 2050. Coupled with surveys indicating a strong desire among youth to move abroad, one can’t help but wonder who will remain in Türkiye below the age of 30 by mid-century.
