Turkey’s unemployment hit lowest level since November 2012

The unemployment rate in Turkey dropped to 8.5 percent in October, the lowest level since November 2012, the state-run Anadolu news agency reported on Monday, citing the Turkish Statistical Institute (TurkStat).

The number of unemployed aged 15 or older fell by 163,000 to 2.96 million year-on-year in October, according to TurkStat data.

The unemployment rate dropped by 0.5 percentage points on a monthly basis.

The rate was 8.4 percent in November 2012.

The unemployment rate was 7 percent among men, compared to 11.3 percent among women in October. The rate of employment stood at 65.8 percent among men and 31.6 percent among women in October, TurkStat data showed.

The labor force participation rate among men in October was 70.8 percent, while it stood at 35.7 percent among women.

The number of employed persons rose by 246,000 to 31.8 million in October, compared to the previous month.

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