Türkiye’s unemployment rate decreases to 8.8 percent in July
Date
9/11/2024 9:06:12 AM
(MENAFN) In July, Türkiye’s unemployment rate declined to 8.8 percent, marking a reduction from the 11-month high of 9.2 percent recorded in June, as reported by the Turkish Statistical Institute (TurkStat). This drop in the jobless rate was accompanied by a decrease in the number of unemployed individuals, which fell by 112,000 from the previous month, bringing the total number of unemployed to 3.17 million. This improvement reflects a modest stabilization in the labor market.
The unemployment rate for men decreased by 0.5 percentage points from June, settling at 7 percent, while the rate for women remained unchanged at 12.4 percent. This disparity highlights ongoing gender differences in employment outcomes. Additionally, the labor force participation rate edged up slightly by 0.1 percentage points to 54.4 percent, indicating a small increase in the proportion of the working-age population engaged in the labor market.
The employment rate also saw an improvement, rising by 0.3 percentage points to 49.6 percent. This increase equates to 32.7 million employed individuals, suggesting a positive shift in the overall employment landscape. The rise in employment rate aligns with the overall decrease in unemployment, reflecting a gradual strengthening of labor market conditions.
Youth unemployment, specifically for those aged 15-24, experienced a slight decrease of 0.1 percentage points, reaching 16.6 percent. Within this group, unemployment rates were notably different by gender, with 12.2 percent for young men and 25 percent for young women. This variation underscores the challenges faced by younger women in the labor market compared to their male counterparts.
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