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Turkey’s jobless rate drops to 11.2% in October

Turkey’s unemployment rate fell to 11.2% in October from a revised 11.4% a month earlier, according to official data Friday.

The number of employed people in Turkey increased by 180,000 to over 29.6 million, placing the employment rate at 46.2% with a 0.2 percentage point increase.

Meanwhile, a seasonally adjusted measure of labor underutilization rose to 22.8% from 21.8%, the data showed.

The labor underutilization measure had risen at the start of the year to around a peak touched during the height of the initial COVID-19 lockdown in May of 2020 but has since fallen back.

The labor force participation rate rose 0.1 percentage point from a month earlier to 52% in October, data from the Turkish Statistical Institute (TurkStat) also showed.

The number of unemployed people aged 15 and over fell by 75,000 to nearly 3.7 million.

“The youth unemployment rate in the 15-24 age group was 20.1% with a 0.8 percentage point decrease compared to the previous month,” TurkStat said.

From January, the data was presented in a new format in line with international standards.

Source
dailysabah

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