Turkey’s unemployment rate stable in December

According to data released by Turkstat, unemployment rate was 8.8 percent in December. While unemployment among young people was recorded as 15.5 percent, idle labor force increased by 2.1 points to 24.7 percent. Turkish Statistical Institute (TurkStat) announced December unemployment rates. According to the results of the Household Labor Force Survey; The number of unemployed people aged 15 and over decreased by 12 thousand people in December 2023 compared to the previous month and became 3 million 98 thousand people. The unemployment rate decreased by 0.1 point to 8.8 percent. Unemployment rate was estimated as 7.1 percent for men and 12.0 percent for women. According to TURKSTAT data, the number of employed people increased by 399 thousand people in December 2023 compared to the previous month and became 32 million 56 thousand people, while the employment rate increased by 0.6 points to 48.8 percent. This rate was realized as 66.1 percent for men and 31.9 percent for women. In December 2023, labor force increased by 387 thousand people compared to the previous month and became 35 million 154 thousand people, while labor force participation rate increased by 0.5 points to 53.5 percent. The labor force participation rate was recorded as 71.1 percent for men and 36.3 percent for women.

Youth unemployment at 15.5 percent

Youth unemployment rate, which covers the 15-24 age group, decreased by 0.8 points compared to the previous month and became 15.5 percent. Unemployment rate in this age group was estimated as 11.5 percent for males and 22.8 percent for females. The seasonally and calendar adjusted average weekly actual working hours of those who were employed in the reference period decreased by 0.1 hour in December 2023 compared to the previous month and realized as 43.7 hours.

Idle labor force rate was 24.7 percent

In December 2023, the idle labor force ratio, which is composed of time-dependent underemployment, potential labor force and unemployed, increased by 2.1 points compared to the previous month and became 24.7 percent. While the integrated rate of time-dependent underemployment and unemployed was 16.4 percent, the integrated rate of unemployed and potential labor force was estimated as 17.9 percent.