Türkiye's unemployment falls to record low in June

Türkiye's unemployment rate fell by 0.5 percentage points month-on-month to 7.6 percent in June, according to labor force statistics released by the Turkish Statistical Institute (TÜİK).

The number of unemployed people aged 15 and over declined by 168,000 compared to the previous month, reaching 2.688 million.

The unemployment rate dropped to 7.6 percent, marking the lowest level since monthly records began in January 2005, CE Report quotes Anadolu Agency.

Compared with the same month last year, the unemployment rate decreased by 1 percentage point.

The unemployment rate was estimated at 6.5 percent for men and 9.8 percent for women.

Among the youth population aged 15-24, the unemployment rate fell by 1.8 percentage points from the previous month to 12.8 percent in June. Youth unemployment stood at 10.4 percent for men and 17.3 percent for women.

TÜİK also revised labor market data for several previous months.

Employment increases

The number of employed people in Türkiye increased by 227,000 in June compared with the previous month, reaching 32.733 million.

Seasonally adjusted employment rose to 32.733 million, while the employment rate increased by 0.3 percentage points to 48.9 percent. The employment rate was 66.1 percent for men and 32 percent for women.

The seasonally adjusted labor force increased by 58,000 month-on-month to 35.420 million people. The labor force participation rate rose by 0.1 percentage points to 52.9 percent, reaching 70.7 percent for men and 35.4 percent for women.

The average actual weekly working time of employed persons, adjusted for seasonal and calendar effects, increased by 0.1 hours from the previous month to 42.5 hours in June.

The underutilized labor rate, which includes time-related underemployment, the potential labor force, and unemployed persons, fell by 2 percentage points month-on-month to 28.8 percent.

The combined rate of time-related underemployment and unemployment stood at 18.5 percent, while the combined rate of unemployment and the potential labor force was estimated at 19.2 percent.

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