TUIK says unemployment rate in Turkey below 10%

TUIK says unemployment rate in Turkey below 10%
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Economist Mustafa Sonmez pointed out that the broad unemployment rate has risen to over 21%, showing that actual unemployment is far higher than the official figures

Turkey's unemployment rate fell 0.5 percentage points in January from the previous month to 9.7%, while the seasonally adjusted measure of labor underutilization rose 0.6 percentage points to 21.9%, data from the Turkish Statistical Institute (TUIK) showed on Friday.

The labor underutilization measure had been declining since peaking at 29.6% in January 2021 due to the economic impact of the pandemic measures.

Economist Mustafa Sonmez said this data shows that the real unemployment rate is around 22%.

"People do not bother to find a job anymore," he said on Twitter.

TUIK data also show that the labor force participation rate increased by 0.2 percentage points to 54.1% in January.