Türkiye's seasonally adjusted unemployment rate dropped to 8.8% in July 2024, marking a 0.4 percentage point decrease from the previous month, according to a statement released by the Turkish Statistical Institute on Tuesday.

Based on the Household Labour Force Survey, the number of unemployed individuals aged 15 and over fell by 112,000, reaching 3.17 million in July. The unemployment rate stood at 7.0% for men and 12.4% for women.

The number of employed people increased by 235,000 in July, bringing the total to 32.7 million. This raised the employment rate to 49.6%, up by 0.3 percentage points compared to June. Employment among men reached 67.4%, while for women, it was 32.2%.

Türkiye's seasonally adjusted labour force participation rate slightly increased by 0.1 percentage points to 54.4% in July. The total number of people in the labour force was 35.88 million, up by 123,000 from the previous month. The participation rate was 72.4% for men and 36.8% for women.

Unemployment among Türkiye's youth, aged 15-24, decreased by 1 percentage point, reaching 16.6%. This rate was estimated at 12.2% for men and 25.0% for women.

The average number of weekly actual working hours, seasonally and calendar adjusted, was 42.5 hours in July, down by 1.3 hours from June.

The composite measure of labour underutilization, which includes time-related underemployment, potential labour force, and unemployment, fell to 26.5% in July, a 2.7 percentage point decrease. The combined rate of time-related underemployment and unemployment stood at 17.9%, while the combined rate of unemployment and potential labour force was 18.5%. (ILKHA)