Unemployment rate inches up to 8.8 percent in October

ANKARA

Türkiye’s unemployment rate increased to 8.8 percent in October, up 0.1 percentage points from the previous month, according to data released on Dec. 10 by the Turkish Statistical Institute (TÜİK).

The number of unemployed individuals rose by 61,000 in October to reach 3.17 million.

The unemployment rate was recorded at 6.9 percent for men and 12.3 percent for women.

Among the 15-24 age group, the youth unemployment rate decreased by 0.3 percentage points from the previous month to 16.6 percent. The youth unemployment was 12.6 percent for men and 23.9 percent for women.

The country’s labor force grew by 219,000 in October, reaching 36.15 million.

The labor force participation rate rose to 54.7 percent, reflecting a 0.3 percentage point increase from September, TÜİK data showed.

The employment rate inched up from 49.7 percent in September to 49.97 percent in October.

The government forecasts that the unemployment rate will be 9.3 percent at the end of 2024, when it expects the economy to grow by 3.5 percent, and that the jobless rate will climb to 9.6 percent next year before easing to 9.2 percent in 2026.