Turkish youth unemployment surges to 18.6% in June

Turkish youth unemployment surges to 18.6% in June
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Turkey's youth unemployment surged to 18.6% in June, a 1.2 percentage point increase, and potential labor force reached 24.2%, the highest in two years, according to data from the TUIK.

The youth unemployment in Turkey soared by 1.2 percentage points to hit 18.6% in June, highlighting a pressing challenge within the country's labor market dynamics, according to the latest data released by the Turkish Statistical Institute (TUIK.)

The data paints a mixed picture of the country's labor market, as unemployment saw a marginal increase of 0.1 percentage points in June, maintaining a single-digit figure, but the broader definition of unemployment, encompassing discouraged workers and underemployed individuals, reached 24.2%, marking the highest point in two years.

According to the Household Labor Force Survey results announced by TÜİK, the number of unemployed individuals aged 15 and above rose by 2,000 individuals from the previous month, reaching a total of 3,337,000 individuals in June 2023.

Despite the slight uptick, the unemployment rate reached 9.6%, reflecting a 0.1 percentage point increase. Gender disparities persisted in unemployment rates, with the rate for males estimated at 7.8% and for females at 13.2%.

Among the most concerning aspects of the report is the unemployment rate among the youth population aged 15 to 24, which saw a notable monthly increase of 1.2 percentage points, reaching 18.6%. This age group exhibited varying gender disparities, with a youth unemployment rate of 15.4% for males and 24.2% for females.

The composite rate of time-related underemployment, potential labor force, and unemployed individuals saw a considerable increase of 1.7 percentage points from the previous month, resulting in a broad unemployment rate of 24.2% in June 2023. When examining the integrated rate of time-related underemployment and total unemployment, the figure settled at 16.6%, whereas the integrated rate of unemployment and potential labor force reached 17.9%.