The Turkish Statistical Institute announced on Friday that the seasonally adjusted unemployment rate for November 2024 has decreased to 8.6%, a slight drop of 0.1 percentage points from the previous month.

According to the Household Labour Force Survey, the number of unemployed individuals aged 15 years and above reduced by 84,000, bringing the total to 3.072 million. The unemployment rate among men was 7.0%, while for women, it was significantly higher at 11.7%.

The seasonally adjusted employment rate was recorded at 49.6%, marking a 0.2 percentage point decrease from the previous month. The number of employed persons fell by 168,000 to 32.748 million. The employment rate for men was noted at 67.1%, and for women, it stood at 32.4%.

In addition, the seasonally adjusted labour force participation rate dropped to 54.2%, a 0.4 percentage point decline compared to the previous month. The total labour force amounted to 35.820 million, showing a reduction of 252,000 persons. The participation rate among men was 72.1%, whereas for women, it was 36.7%.

The youth unemployment rate (ages 15-24) decreased by 0.5 percentage points, reaching 15.8%. This rate was 11.9% for young men and a significantly higher 23.0% for young women.

The seasonally and calendar adjusted average weekly actual working hours increased slightly by 0.3 hours to 42.9 in November 2024.

Additionally, the composite measure of labour underutilization—which includes factors such as time-related underemployment, potential labour force, and unemployment—rose by 0.6 percentage points to 28.2%. The combined rate of time-related underemployment and unemployment was 18.5%, while the combined rate of unemployment and potential labour force stood at 19.4%.

These statistics reflect ongoing trends in Türkiye's labour market, highlighting shifts in employment, youth unemployment, and labour force participation. (ILKHA)