Turkiye's unemployment hits 13-month high in June
In a breaking news update, the unemployment rate in June reached its highest level in 13 months, while the employment rate fell to its lowest point in seven months. The number of unemployed individuals increased by 234,000 compared to the previous month, totaling 3.305 million. The unemployment rate rose by 0.7 percentage points to 9.2%. Meanwhile, the employment rate decreased by 0.6 percentage points to 49.3%.
The Turkish Statistical Institute (TurkStat) released the Labor Force Statistics for June 2024.
According to the Household Labor Force Survey, the number of unemployed people aged 15 and over increased by 234,000 in June 2024 compared to the previous month, reaching 3.305 million. The unemployment rate rose by 0.7 percentage points to 9.2%. The unemployment rate was estimated at 7.6% for men and 12.4% for women.
Employment Rate Falls to 49.3%
The number of employed people in June 2024 decreased by 341,000 from the previous month, totaling 32.522 million, with the employment rate falling by 0.6 percentage points to 49.3%. The employment rate for men was 66.9%, while it was 32.1% for women.
The labor force in June 2024 decreased by 107,000 compared to the previous month, totaling 35.827 million. The labor force participation rate dropped by 0.2 percentage points to 54.4%. The participation rate was 72.4% for men and 36.7% for women.
Youth Unemployment Rises to 17.6%
The unemployment rate among the youth population, covering the 15-24 age group, increased by 1.7 percentage points from the previous month to 17.6%. In this age group, the unemployment rate was estimated at 14.8% for men and 23.2% for women.
The average weekly actual working hours for those employed during the reference period, adjusted for seasonal and calendar effects, increased by 0.1 hours compared to the previous month, reaching 44.0 hours in June 2024.
The underutilized labor force rate, which includes time-related underemployment, potential labor force, and the unemployed, rose by 3.8 percentage points to 29.2% in June 2024 compared to the previous month. The combined rate of time-related underemployment and unemployment was estimated at 20.2%, while the combined rate of unemployment and potential labor force was 19.5%.
