Unemployment Rate in Turkey Stands at 8.7% in February

Based on the Household Labor Force Survey results, the number of unemployed persons aged 15 and over decreased by 109 thousand people compared to the previous month, reaching 3 million 78 thousand individuals. The unemployment rate decreased by 0.3 percentage points to 8.7%.

The unemployment rate was estimated at 7.3% for males and 11.3% for females.

INCREASE FROM THE PREVIOUS YEAR

The number of employed persons increased by 147 thousand individuals compared to the previous month, reaching 32 million 423 thousand people in February 2024. The employment rate also increased by 0.2 percentage points to 49.3%. While the employment rate was 66.5% for males, it was 32.5% for females.

36% OF POTENTIALLY WORKING WOMEN ARE EMPLOYED

In February 2024, the labor force participation increased by 38 thousand individuals compared to the previous month, reaching 35 million 501 thousand people, with a participation rate remaining unchanged at 54.0%. The labor force participation rate was 71.7% for males and 36.6% for females.

YOUTH UNEMPLOYMENT AT 15.6%

The unemployment rate among the youth population aged 15-24 decreased by 0.8 percentage points compared to the previous month, standing at 15.6%. The unemployment rate in this age group was estimated at 13.4% for males and 19.6% for females.

AVERAGE WEEKLY WORKING HOURS INCREASED

In February 2024, the seasonally and calendar-adjusted average actual weekly working hours of employed persons increased by 0.2 hours compared to the previous month, reaching 43.5 hours.

25% NEITHER AT HOME NOR AT WORK

The underemployment rate, including time-related underemployment, potential labor force, and unemployed individuals, decreased by 1.9 percentage points to 24.5% in February 2024. The integrated rate of time-related underemployment and unemployment was 16.3%, while the integrated rate of unemployment and potential labor force was estimated at 17.6%.

Source: TAK