Turkish Vice President Cevdet Yılmaz has commented on the latest unemployment figures released by the Turkish Statistical Institute, reaffirming the government’s commitment to boosting economic growth and stability.

In a statement shared on his official social media account, Yılmaz emphasized the effectiveness of the government’s policies, which have successfully maintained the unemployment rate at single digits despite global economic challenges. He attributed this success to the country’s disinflation efforts and employment-friendly policies.

According to the seasonally adjusted data for September 2024, Turkey's employment increased by 1.1 million people, reaching a total of 32.8 million. The employment rate rose to 49.7%, while the labor force participation rate increased by 1.2 percentage points to 54.4%.

The unemployment rate remained stable at 8.6%, unchanged from the previous month. However, Yılmaz expressed optimism, predicting that the unemployment rate would fall to its lowest level since 2012 by the end of the Medium-Term Programme period.

Yılmaz also outlined the government’s plans for the future, which include increasing high value-added production, boosting labor productivity, and enhancing the competitiveness of Turkish businesses. He highlighted the importance of technological transformation, human capital development, and efforts to reduce informality within the labor market as key components of Turkey’s economic rebalancing strategy. (ILKHA)