Unemployment Rate Rises Slightly to 8.8% in October

In October, the unemployment rate increased by 0.1 percentage points compared to the previous month, reaching 8.8%. According to the data announced by the Turkish Statistical Institute (TUIK), the number of unemployed individuals aged 15 and over increased by 61,000 in October 2024 compared to the previous month, totaling 3.175 million people. The unemployment rate is estimated to be 6.9% for men and 12.3% for women.

The number of employed people in October 2024 rose by 156,000 compared to the previous month, reaching 32.97 million, with the employment rate increasing by 0.2 percentage points to 49.9%. This rate stands at 67.4% for men and 32.8% for women.

The labor force increased by 219,000 in October 2024 compared to the previous month, reaching 36.146 million, while the labor force participation rate rose by 0.3 percentage points to 54.7%. The labor force participation rate is 72.4% for men and 37.4% for women.

The unemployment rate among the youth aged 15-24 decreased by 0.3 percentage points compared to the previous month, reaching 16.6%. For this age group, the unemployment rate is estimated to be 12.6% for men and 23.9% for women.

In the reference period, the seasonally and calendar adjusted average actual working hours for those employed decreased by 0.1 hours compared to the previous month, settling at 42.5 hours in October 2024.

The unpaid labor force, consisting of time-related underemployment, potential labor force, and the unemployed, increased by 1.9 percentage points compared to the previous month, reaching 27.6% in October 2024. The integrated rate of time-related underemployment and the unemployed is estimated to be 18.5%, while the integrated rate of the unemployed and potential labor force stands at 19.0%.