Real unemployment rate in Turkey reaches record high

The DİSK Research Center (DİSK-AR) has announced that the real unemployment rate in Turkey has risen to 28.8 percent. The rate is notable as one of the highest levels seen since 2014.

The Turkish Statistical Institute (TÜİK), meanwhile, announced the narrow-defined unemployment rate as 7.9 percent. DİSK-AR states that the broad-based unemployment rate, which is the real unemployment rate, is significantly higher.

Broad-based unemployment is known as a measurement that also includes those who have given up looking for work and those who are underemployed. For this reason, it presents a more comprehensive picture than the narrow-defined unemployment rate.

According to DİSK-AR data, the broad-based unemployment rate has been continuously increasing for the last four months, and this situation points to a serious problem in the labor market.

The DİSK Research Center announced that it will publish a detailed report.

Economists warn that such high unemployment rates could create negative effects on economic growth and social welfare.

The fact that unemployment rates in Turkey are this high reveals that the government needs to review its employment policies. Producing permanent solutions in the labor market is of great importance in terms of ensuring economic stability.

News Source: 12punto