Türkiye's unemployment rate rises to 9.6% in June

The Turkish Statistical Institute has reported that the seasonally adjusted unemployment rate for June 2023 stands at 9.6%, reflecting a slight increase from the previous month. The latest data from the Household Labour Force Survey reveals that the number of unemployed individuals aged 15 and over rose by 2,000, reaching a total of 3.337 million persons.

The report indicates that the overall unemployment rate saw a 0.1 percentage point rise compared to the previous month's estimate, with specific breakdowns for men at 7.8% and women at 13.2%.

On the employment front, the survey notes that the number of employed persons experienced a decrease of 363,000, reaching 31.291 million in June 2023 compared to the prior month. The seasonally adjusted employment rate, as a result, dropped by 0.6 percentage points to 47.8%. The gender-specific employment rates were recorded as 65.2% for men and 30.8% for women.

Meanwhile, the seasonally adjusted labour force participation rate, encompassing the total number of individuals actively participating in the workforce, amounted to 34.629 million in June 2023. This figure reflects a decrease of 359,000 from the previous month, causing the participation rate to dip by 0.6 percentage points to 52.9%. Notably, the male participation rate remained higher at 70.7% compared to the female participation rate of 35.5%.

In the youth demographic (15-24 age group), the seasonally adjusted youth unemployment rate rose by 1.2 percentage points to 18.6% compared to the previous month. A gender-based breakdown revealed a youth unemployment rate of 15.4% for men and 24.2% for women.

The report further discloses that the seasonally and calendar adjusted average weekly actual working hours for individuals currently employed was 44.6 hours, indicating an increase of 0.7 hours from the previous month.

The composite measure of labor underutilization, which combines time-related underemployment, potential labor force, and unemployment, surged by 1.7 percentage points to 24.2% in June 2023. The combined rate of time-related underemployment and unemployment reached 16.6%, while the combined rate of unemployment and potential labor force stood at 17.9%. (ILKHA)