18.4 C
Frankfurt am Main

Turkey’s unemployment rate drops to 10.1 pct but remains in double digits

Must read

Turkey’s unemployment rate stood at 10.1 percent in March, falling 1.6 percentage points on a yearly basis but remaining in double digits, the Hürriyet Daily News reported, citing data released by the Turkish Statistics Institute (TurkStat) on Monday.

The unemployment rate was 10.6 percent in February.

The seasonally adjusted unemployment rate was 9.9 percent in March with a 0.1 percentage point increase, according to the TurkStat data.

In the same period, the non-agricultural unemployment rate stood at 11.9 percent with a 1.8 percentage point decrease.

The number of unemployed persons aged 15 and over — 3.2 million last March –decreased 432,000 year-on-year.

“While the youth unemployment rate including persons aged 15-24 was 17.7 percent with a 3.7 percentage point decrease, the unemployment rate for persons aged 15-64 was 10.3 percent with a 1.7 percentage point decrease,” TurkStat said.

The number of employed rose by 1 million to nearly 10.3 million in the same period, pushing the employment rate up to 47.1 percent with a 1 percentage point annual increase, the institute added.

Breaking down employment by sector, 17.7 percent of people are employed in agriculture, 19.7 percent in industry, 7.3 percent in construction and 55.3 percent in services, according to TurkStat data.

Official data showed that the labor force participation rate (LFPR) was 52.4 percent — a 0.2-percentage point increase year-on-year — while labor force participation reached 31.7 million, up 578,000.

The male LFPR stood at 71.8 percent — down 0.1 percentage point — while the female rate was 33.4 percent — up 0.5 percentage points on a yearly basis.

Meanwhile, the rate of unregistered employment — people working in the informal economy — stood at 32.4 percent, a drop of 0.7 percentage points year-on-year, TurkStat added.

Liked it? Take a second to support Turkish Minute on Patreon!
Become a patron at Patreon!
More News
Latest News