Unemployment rate in Turkey decreased by 0.7 points in the third quarter of the year

Turkish Statistical Institute (TUIK) announced the labor force statistics for the July-September period.

Unemployment rate in Turkey became 10 percent in the third quarter of this year, with a 0.7 percentage point decrease compared to the previous quarter. In this period, the number of unemployed fell to 3 million 433 thousand people.

Accordingly, the seasonally adjusted number of unemployed persons aged 15 and over in Turkey decreased by 234 thousand in the third quarter of this year compared to the previous quarter and became 3 million 433 thousand.

Seasonally adjusted unemployment rate, on the other hand, decreased by 0.7 percentage points to 10 percent. The unemployment rate decreased by 1.6 points in the third quarter compared to the same period of the previous year.

In the same period, the seasonally adjusted unemployment rate for the young population between the ages of 15-24, decreased by 0.8 percentage points to 19.1 percent. The unemployment rate in this age group was estimated to be 16.1 percent for men and 24.7 percent for women.

On the other hand, TURKSTAT revised some data for previous periods.

SEASONAL ADJUSTED EMPLOYMENT

Seasonally adjusted, the number of employed people increased by 123 thousand people in the third quarter of the year compared to the previous quarter and reached 30 million 787 thousand people. The employment rate remained unchanged at 47.5%. While this rate was 64.9 percent for men, it was 30.5 percent for women.

The seasonally adjusted workforce decreased by 111 thousand people in the said period and fell to 34 million 220 thousand people. The labor force participation rate decreased by 0.4 percentage points to 52.8 percent.

Compared to the previous quarter, the number of employed persons decreased by 26 thousand persons in the agricultural sector and by 107 thousand persons in the industrial sector, while the number of employed persons increased by 8 thousand persons in the construction sector and by 247 thousand persons in the service sector. 15.8 percent of those employed were in agriculture, 21.6 percent in industry, 5.9 percent in construction and 56.7 percent in the service sector.

Seasonally and calendar adjusted average weekly actual working hours of those employed during the reference period decreased by 0.4 hours compared to the previous quarter to 43.7 hours in the third quarter of this year.

The rate of underemployment due to time, potential workforce and the unemployed became 20.9 percent with a 0.5 percentage point decrease in the third quarter compared to the previous quarter. While the combined rate of time-related underemployment and the unemployed was 14.2 percent, the combined rate of potential workforce and unemployed was estimated to be 17.1 percent.