Unemployment rate at 11.3 percent in April

Unemployment rate at 11.3 percent in April

Unemployment rate at 11.3 percent in April

Turkey’s unemployment rate increased slightly by 0.1 percent from March to stand at 11.3 percent in April, the Turkish Statistical Institute (TÜİK) said on June 10.

The number of unemployed rose by 65,000 to 3.85 million people, data from TÜİK showed.

The unemployment rate was 9.7 percent for men and 14.5 percent for women in April.

The labor force participation rate improved from 52.4 percent in March to 53.1 percent, with the number of people in the country’s labor force standing at 34.2 million.

The unemployment rate among the youth - aged between 15 and 24 - declined from 20.8 percent to 20 percent.

On a seasonally and calendar adjusted basis, the average weekly working time increased by 0.2 hours from March to 45.1 hours, TÜİK also said.

The Organization for Economic Cooperation and Development (OECD) predicted in its latest edition of the economic outlook report released earlier that the unemployment rate in Turkey will be 11.8 percent in 2022 and 2023.

The organization upgraded its economic growth forecast for the Turkish economy for 2022 from a previous 3.3 percent to 3.7 percent while cutting its estimate for next year from 3.9 percent to 3 percent.