Türkiye sees rise in unemployment rates
A street vendor waits for customers in Istanbul, Türkiye. November 26, 2012. (Photo)
The Turkish Statistical Institute (TUIK) has released labor force statistics for June 2024. According to the report, the number of unemployed individuals aged 15 and above increased by 234,000 from the previous month, bringing the total to 3.305 million.
The unemployment rate rose by 0.7 percentage points to 9.2%, although this represents a 0.2 percentage point decrease compared to the same month last year.
Youth unemployment rises to 17.6%
The unemployment rate for the 15-24 age group rose by 1.7 percentage points from the previous month, reaching 17.6% in June. The gender breakdown shows unemployment rates of 14.8% for men and 23.2% for women within this age group.
TUIK has revised unemployment rates for several months, providing updated figures for the period from 2022 to 2024.
The number of employed individuals fell by 341,000 from the previous month, totaling 32.522 million in June. The employment rate decreased by 0.6 percentage points to 49.3%, with 66.9% for men and 32.1% for women.
Labor force participation declines
The labor force decreased by 107,000 individuals in June, bringing the total to 35.827 million. The labor force participation rate dropped by 0.2 percentage points to 54.4%, with participation rates of 72.4% for men and 36.7% for women.
The average actual weekly working hours increased by 0.1 hours from the previous month, reaching 44 hours in June.
The underutilized labor force rate, which includes time-related underemployment, potential labor force, and unemployed individuals, rose by 3.8 percentage points to 29.2% in June. The combined rate of time-related underemployment and unemployment was estimated at 20.2%, while the combined rate of unemployment and potential labor force stood at 19.5%.
