The Turkish Statistical Institute (TÜİK) has published labor force statistics for August. According to seasonally adjusted data, the unemployment rate decreased by 0.3 percentage points compared to the previous month, falling to 7.8 percent.
The number of unemployed people aged 15 and over decreased by 106 thousand in August and was calculated at 2 million 740 thousand. The unemployment rate was estimated at 6.6 percent for men and 10.1 percent for women.
In the same period, the number of employed people increased by 136 thousand to 32 million 507 thousand. The employment rate rose by 0.1 percentage points to 48.4 percent. The employment rate was 65.8 percent for men and 31.5 percent for women.
The labor force increased by 29 thousand in August compared to the previous month, reaching 35 million 247 thousand. The labor force participation rate remained unchanged at 52.5 percent. This rate was recorded at 70.5 percent for men and 35.0 percent for women.
INCREASE IN IDLE LABOR FORCE
Despite the decline in the unemployment rate, the idle labor force rate, which is a broader indicator, has risen. The idle labor force rate, consisting of time-related underemployment, potential labor force, and the unemployed, increased by 0.4 percentage points in August to 31.0 percent.
According to TÜİK data, the combined rate of time-related underemployment and the unemployed was calculated at 20.2 percent. The combined rate of the unemployed and the potential labor force was also estimated at 20.2 percent.
The unemployment rate among the youth population declined. In the 15-24 age group, the seasonally adjusted unemployment rate decreased by 1.1 percentage points compared to the previous month to 13.0 percent. Unemployment was announced as 9.7 percent for young men and 19.4 percent for young women.
The seasonally and calendar-adjusted average weekly actual working hours also increased by 0.5 hours in August. The average weekly working hours for those at work during the reference period was 42.5 hours.
News Source: 12punto
