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Türkiye's Jobless Rate Drops to 8.5 Percent in October
(MENAFN) Türkiye's unemployment rate declined to 8.5% in October, the nation's statistical agency reported Friday.
The figure represents a decrease from September's 8.6% rate, based on figures released by the Turkish Statistical Institute (TurkStat).
The total count of jobless individuals aged 15 and above fell by 27,000 to 3.03 million during October.
Gender disparities persisted, with unemployment registering at 7% for men and 11.3% for women throughout the period.
Employment figures demonstrated growth, adding 185,000 workers and elevating the total employed population to 32.77 million.
The aggregate employment rate climbed to 49.2%, breaking down to 66.5% for men and 32.4% for women.
The labor force expanded by 157,000 individuals to reach 35.8 million, with workforce participation standing at 53.8%.
Youth unemployment—encompassing the 15-24 age bracket—increased 0.2 percentage points from September to 15.6% in October, measuring 12.9% for men and 20.6% for women.
Third-quarter data showed the unemployment rate averaging 8.5%.
Responding to the statistics, Türkiye's Vice President Cevdet Yilmaz stated the robust conditions in the Turkish labor market persisted through October, noting that the unemployment rate's 30-month streak below double digits strengthens economic confidence.
"In addition to incentive programs implemented for the employment of young people and women, we continue to take steps to facilitate women's working lives, accelerate young people's transition from education to employment, and reduce idle labor within the framework of our inclusive development goal," Yilmaz posted on Turkish social media platform NSosyal.
He projected Türkiye will join high-income nations by 2025, stressing continued support for employment in labor-intensive industries alongside policies enhancing human capital qualifications, skills, and productivity to maintain sustainable advancement.
"With the increase in labor force participation rate projected in our program over the next three years, we expect employment to increase by an average of 842,000 people annually, and the unemployment rate to gradually decline to 7.8% in 2028," he stated.
"We aim to increase the purchasing power of our citizens and improve income distribution through a sustainable and employment-supporting growth path aligned with our disinflation program," Yilmaz concluded.
The figure represents a decrease from September's 8.6% rate, based on figures released by the Turkish Statistical Institute (TurkStat).
The total count of jobless individuals aged 15 and above fell by 27,000 to 3.03 million during October.
Gender disparities persisted, with unemployment registering at 7% for men and 11.3% for women throughout the period.
Employment figures demonstrated growth, adding 185,000 workers and elevating the total employed population to 32.77 million.
The aggregate employment rate climbed to 49.2%, breaking down to 66.5% for men and 32.4% for women.
The labor force expanded by 157,000 individuals to reach 35.8 million, with workforce participation standing at 53.8%.
Youth unemployment—encompassing the 15-24 age bracket—increased 0.2 percentage points from September to 15.6% in October, measuring 12.9% for men and 20.6% for women.
Third-quarter data showed the unemployment rate averaging 8.5%.
Responding to the statistics, Türkiye's Vice President Cevdet Yilmaz stated the robust conditions in the Turkish labor market persisted through October, noting that the unemployment rate's 30-month streak below double digits strengthens economic confidence.
"In addition to incentive programs implemented for the employment of young people and women, we continue to take steps to facilitate women's working lives, accelerate young people's transition from education to employment, and reduce idle labor within the framework of our inclusive development goal," Yilmaz posted on Turkish social media platform NSosyal.
He projected Türkiye will join high-income nations by 2025, stressing continued support for employment in labor-intensive industries alongside policies enhancing human capital qualifications, skills, and productivity to maintain sustainable advancement.
"With the increase in labor force participation rate projected in our program over the next three years, we expect employment to increase by an average of 842,000 people annually, and the unemployment rate to gradually decline to 7.8% in 2028," he stated.
"We aim to increase the purchasing power of our citizens and improve income distribution through a sustainable and employment-supporting growth path aligned with our disinflation program," Yilmaz concluded.
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