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Turkiye's unemployment rate hits 12-year low in May

July 10, 2024 at 9:36 am

People cross a street as daily life continues in Ulus, Ankara, Turkiye on January 02, 2024 [Mustafa Çiftçi – Anadolu Agency]

The unemployment rate in Turkiye dropped to 8.4 per cent in May, hitting the lowest rate since November 2012, official figures from the Turkish Statistical Institute (TurkStat) showed yesterday.

The rate was at 8.5 per cent in April and 9.5 per cent in May 2023, according to TurkStat’s data.

The number of unemployed people dropped by 27,000 to 3.01 million in May compared to  the month earlier.

Meanwhile, the number of employed persons increased by 273,000 to 32.9 million in May 2024 compared to the previous month.

The employment rate was at 50 per cent, up by 0.4 percentage point, over the same period.

The youth unemployment rate – for the 15-24 age group – was 15 per cent, up by 0.3 percentage point, on a monthly basis.

READ: Turkiye ranks 18th worldwide with population of 85.3m