The number of unemployed persons decreased by 38,000 to 3.291 million in July, while the number of employed persons increased by 318,000 to 31.671 million.

The seasonally adjusted employment rate rose to 48.4% in July, from 47.9% in the previous month.

The seasonally adjusted labor force participation rate also increased to 53.4% in July, from 53% in the previous month.

The youth unemployment rate (ages 15-24) decreased to 18% in July, from 18.3% in the previous month.

The seasonally adjusted composite measure of labor underutilization rate, which includes time-related underemployment, potential labor force and unemployment, decreased to 22.7% in July, from 24.2% in the previous month.

The combined rate of time-related underemployment and unemployment decreased to 14.8% in July, from 15.7% in the previous month.

The combined rate of unemployment and potential labor force decreased to 17.8% in July, from 19.3% in the previous month.

Turkish economy has been recovering from the COVID-19 pandemic, and the unemployment rate has been declining in recent months.

However, the war in Ukraine and the rising inflation are expected to weigh on the economy in the coming months. (ILKHA)