Türkiye's Employment Rate Hits 49.4% as 208,000 Jobs Added, Unemployment Rises to 8.5%
Türkiye's employment rate has seen a boost, with the overall rate rising to 49.4%. This comes as the number of employed people increased by 208,000 in August, totaling 32.83 million. However, the unemployment rate has also risen to 8.5%, affecting over 3 million people.
The labor force in Türkiye expanded by 376,000 in August, reaching 35.87 million people. The labor force participation rate has increased to 54.0%. Breaking down the employment rates, men's participation stands at 71.5%, while women's is at 36.9%. The employment rate for men is 66.6%, and for women, it is 32.6%.
The unemployment rate among young people (aged 15-24) has increased to 16%. The broad unemployment rate, which includes underutilized labor, has reached 29.7%. Despite the rise in unemployment, the OECD did not confirm an increase in unemployment in its recent report.
While Türkiye's employment rate has shown improvement, the unemployment rate remains a concern, particularly among young people. With over 3 million people unemployed, addressing this issue will be crucial for the country's economic growth.
