Published unemployment figures
The Turkish Statistical Institute (TUIK) announced the Labor Force Statistics for May 2023.
Thus, the number of unemployed aged 15 and over decreased by 193 thousand people in May 2023 compared to the previous month and went to 3 million 328 thousand people. Thus, the lowest unemployment rate since March 2014 was recorded.
The unemployment rate, on the other hand, decreased by 0.5 percentage points to 9.5 percent. While the unemployment rate was 7.7 percent for men, it was estimated to be 13.0 percent for women.
THE EMPLOYMENT RATE HAS NOT CHANGED
The number of employed people increased by 63,000 people in May 2023 compared to the previous month, reaching 31,716,000 people, while the employment rate remained unchanged at 48.5 percent. While this rate was 66.0 percent for men, it was 31.4 percent for women.
In May 2023, compared to the previous month, the labor force decreased by 130 thousand people to 35 million 44 thousand people, while the labor participation rate decreased by 0.3 points to 53.6 percent. While the labor force participation rate was 71.5 percent for men, it was 36.1 percent for women.
YOUTH UNEMPLOYMENT 17 PERCENT
The unemployment rate among the youth population covering the age group of 15 to 24 years became 17.0 percent with a decrease of 1.6 percentage points compared to the previous month. Unemployment rate in this age group; It was estimated at 14.3 percent for men and 22.3 percent for women.
The average weekly effective working time, corrected for seasonal and calendar effects, of the employed during the reference period decreased 0.3 hours compared to the previous month and went to 44.1 hours in May 2023.
WIDE UNEMPLOYMENT 22.5 PERCENT
The idle labor force rate, which is made up of underemployment due to insufficient hours, potential labor force and the unemployed, decreased 1.2 percentage points from the previous month and stood at 22.5 percent in May.
While the combined rate of time-related underemployment and unemployment was 15.8 percent, the combined rate of unemployment and potential labor force was estimated at 16.7 percent.
Source: Sozcu
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