Jobless rate increases in October

Jobless rate increases in October

Jobless rate increases in October

Türkiye’s unemployment rate inched up from 10.1 percent in September to 10.2 percent in October, the Turkish Statistical Institute (TÜİK) said on Dec. 12

The number of unemployed increased by 57,000 on a monthly basis to stand at 3.53 million people as of October, data from TÜİK showed.

The unemployment rate was 8.6 percent for men, down from 8.7 percent in September, while it was 13.3 percent for women in October, rising from 12.8 percent in the previous month.

The labor force participation rate improved from 53.1 percent from September to 53.5 percent, with the number of people in the country’s labor force standing at 34.7 million.

The labor force participation rates were 71.8 percent for men and 35.5 percent for women, according to the latest data.

The employment rate was 48 percent in October, rising from 47.7 percent in September.

The unemployment rate among the country’s youth - aged between 15 and 24 – increased from 20.1 percent to 21.9 percent.

The jobless rates among the country’s male and female youth were 18.2 percent and 28.6 percent, respectively.

On a seasonally and calendar-adjusted basis, the average actual weekly working time increased by 0.3 hours from September to 44.3 hours in Octo, TÜİK also said.

The statistics institute also calculated the labor underutilization rate at 20.3 percent, unchanged from the previous month.

The rate of a composite measure of labor underutilization consists of time-related underemployment, potential labor force and unemployment.