Unemployment data for the second quarter of the year released
According to the second quarter 2024 data from TÜİK, the unemployment rate remained stable at 8.8%. The number of unemployed persons increased by 23 thousand to reach 3 million 156 thousand. While unemployment in the youth population rose to 16.3%, the idle labor rate reached 27.3%.
12punto
The Turkish Statistical Institute (TÜİK) has announced labor force statistics for the second quarter of 2024. According to the released data, the number of unemployed persons aged 15 and over increased by 23 thousand in the second quarter compared to the previous quarter, reaching 3 million 156 thousand. The unemployment rate remained unchanged, holding steady at 8.8%. This rate was 7.3% for men and 11.7% for women.
The number of employed persons increased by 205 thousand in the second quarter, reaching 32 million 661 thousand. The employment rate rose to 49.6%. The employment rate was recorded at 67% for men and 32.5% for women.
UNEMPLOYMENT RISE IN YOUTH POPULATION
The unemployment rate among the youth population in the 15-24 age group rose by 0.4 percentage points compared to the previous quarter, reaching 16.3%. In this age group, the unemployment rate was estimated at 13.7% for men and 21.5% for women.
WEEKLY WORKING HOURS
The average actual weekly working hours of employed persons, based on seasonally and calendar-adjusted data, increased by 0.4 hours in the second quarter of 2024 compared to the previous quarter, reaching 44 hours.
INCREASE IN REAL UNEMPLOYMENT
The idle labor force rate, which consists of time-related underemployment, the potential labor force, and the unemployed, increased by 2.2 percentage points in the second quarter compared to the previous quarter, rising to 27.3%. The combined rate of time-related underemployment and the unemployed was estimated at 19.2%, while the combined rate of the potential labor force and the unemployed was estimated at 18%.