Turkish unemployment rate rose to 10.1%

Turkey's unemployment rate rose 0.3 percentage points month-on-month to 10.1% in September, as the number of unemployed people increased by 120.000 people compared to the previous month and reached 3.482.000, data from Turkish Statistical Institute (TUIK) showed on Thursday.

 The unemployment rate was 8.8% for men,  and 12.8 percent for women.

 A seasonally adjusted measure of labor under-utilization rose to 20.3%, TUIK said. 

 The labor under-utilization measure, which stood at 19.9% in August, had been on a falling trend since peaking at 29.6% in January 2021 due to the economic fallout from pandemic measures.

 TUIK said the workforce in Turkey increased by 67.000 thousand compared to the previous month and reached 34.349.000, while the labor force participation rate remained unchanged at 52.9 percent. The labor force participation rate was 71.3 percent for men and 35.0 percent for women.

 Meanwhile, the unemployment rate for August was revised to 9.8% from an early measurement of 9.6%, the statement from TUIK said. The labor force participation rate in September was unchanged from a month earlier at 52.9%.