Türkiye's unemployment rate declines to 9.5% in May

The seasonally adjusted unemployment rate remained unchanged at 48.5%, according to the agency.

The number of unemployed persons decreased by 193,000 to 3.3 million in May, while the number of employed persons increased by 63,000 to 31.7 million. The number of persons in the labor force decreased by 130,000 to 35.4 million.

The youth unemployment rate (15-24 years old) declined to 17% in May, from 18.6% in April. The seasonally adjusted average weekly actual working hours of persons at work decreased by 0.3 hours to 44.1 hours in May.

The composite measure of labor underutilization rate, which consists of time-related underemployment, potential labor force and unemployment, decreased to 22.5% in May, from 23.7% in April.

The Turkish government has taken a number of measures in recent years to boost employment, including increasing public investment, providing tax breaks to businesses that create jobs, and expanding training programs. These measures appear to be having some success, as the unemployment rate has been declining steadily since 2019.

However, the unemployment rate is still high in Türkiye, especially among young people. The government will need to continue to implement policies that support job creation in order to bring down the unemployment rate and improve the lives of Turkish citizens. (ILKHA)