TÜİK announces: Unemployment rate revealed

According to the results of the Household Labor Force Survey announced by TÜİK, the number of unemployed persons aged 15 and over decreased by 19 thousand in March 2024 compared to the previous month, reaching 3 million 57 thousand. 

UNEMPLOYMENT AT 8.6 PERCENT

The unemployment rate decreased by 0.1 percentage points to 8.6%. The unemployment rate was estimated at 6.8% for men and 12.0% for women.

EMPLOYMENT RATE

The number of employed persons increased by 139 thousand in March 2024 compared to the previous month, reaching 32 million 588 thousand, while the employment rate increased by 0.2 percentage points to 49.5%. This rate was 66.9% for men and 32.5% for women.

LABOR FORCE PARTICIPATION RATE

The labor force increased by 121 thousand in March 2024 compared to the previous month, reaching 35 million 645 thousand, while the labor force participation rate increased by 0.2 percentage points to 54.2%. The labor force participation rate was 71.8% for men and 36.9% for women.

YOUTH UNEMPLOYMENT

The unemployment rate for the youth population, covering the 15-24 age group, decreased by 0.4 percentage points compared to the previous month to 15.1%. In this age group, the unemployment rate was estimated at 11.7% for men and 21.2% for women.

IDLE LABOR FORCE RATE

The idle labor force rate, consisting of time-related underemployment, potential labor force, and the unemployed, decreased by 0.4 percentage points in March 2024 compared to the previous month to 24.1%. While the combined rate of time-related underemployment and the unemployed was 16.1%, the combined rate of the unemployed and the potential labor force was estimated at 17.3%.

News Source: 12punto