Türkiye's broad unemployment rate over 20 percent in third quarter

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Türkiye's broad unemployment rate was 20.9 percent in the third quarter of the year, decreasing by 0.5 points compared to the previous quarter, according to the Turkish Statistical Institute (TurkStat) data released today (November 15).

Termed as "labor underutilization rate" by TurkStat, the broad unemployment rate is calculated by combining the rates of time-related underemployment, potential labor force and unemployment.

The unemployment rate was 10 percent, decreasing by 0.7 points in three months. It was 8.7 percent for men and 12.8 percent for women.

The number of unemployed aged 15 and over decreased by 234,000 compared to the second quarter of this year. Currently, 3.4 million people are unemployed in the country.

Employment rate

The number of people employed increased by 123,000 to 30,78 million people in the third quarter compared to the previous quarter. The employment rate remained unchanged at 47.5 percent, with 64.9 percent of men being employed and 30.5 of women.

Irrespective of seasonal employment, in both the agricultural and industrial sectors, the number of employed decreased by 26,000 and 107,000, respectively. The construction and service sectors saw increases of 8 thousand and 247 thousand people.

The service sector is the largest employer in Türkiye, with 56.7 of those employed working in this sector, 21.6 percent working in the industrial sector, 15.8 percent in agriculture, and 5.9 percent in construction.

The unemployment rate among people aged between 15-24, decreased by 0.8 percentage points to 19.1 compared to the previous quarter. The unemployment rate in this age group is estimated to be 16.1 percent for men and 24.7 percent for women.

Labor participation rate

Compared to the previous quarter, the workforce decreased by 111,000 people to 34.22 million. The labor participation rate, the labor force divided by the total working-age population, people aged between 15-64, dropped by 0.4 percentage points to 52.8 percent. The labor force participation rate was 71.1 percent for men and 34.9 percent for women.

Those employed worked around 43.7 hours per week, a decrease of 0.4 hours compared to the previous quarter. Under the labor law of Türkiye, the regular working hours are a maximum of 45 hours per week. (HA/WM/VK)