Minister Işıkhan evaluates unemployment data

The Turkish Statistical Institute (TURKSTAT) has released labor force statistics for the July-September period.

Evaluating the data released by TURKSTAT, Minister of Labor and Social Security Vedat Işıkhan stated that unemployment figures have reached their lowest level in the last 11 years.

Stating that they increased employment by 136 thousand people in the third quarter of 2024 compared to the previous quarter, Işıkhan emphasized that they thus raised employment to 32 million 734 thousand people and the employment rate to 49.6 percent.

"HISTORIC PEAK IN LABOR FORCE PARTICIPATION AND EMPLOYMENT RATES"

Minister Işıkhan pointed out that the number of unemployed people decreased by 20 thousand in the same period, falling to 3 million 106 thousand, and that the unemployment rate continues to remain in the single digits at 8.7 percent, noting the following:

"The increase of 116 thousand people we recorded in the labor force participation rate proves that the steps we have taken are correct. We will continue to increase our labor force, which has reached 35 million 840 thousand people. Our economic policies continue to strongly generate employment. We have reached a historic peak in labor force participation and employment rates on a quarterly basis, and the lowest level in the last 11 years in the unemployment rate.

The unemployment rate, which performed well according to our Medium-Term Program (MTP) expectations, decreased by 0.5 points compared to the same period last year. Compared to the same period of the previous year, we recorded an increase of 1.2 points in our employment rate and 1 point in our labor force participation rate. In line with our MTP targets, we will continue our efforts to increase employment opportunities and reduce unemployment. We will resolutely implement our steps to support the participation of youth and women in the labor market."

News Source: 12punto