Turkey’s unemployment rate dips to 8.8% in Dec. ’23

Turkey’s unemployment rate estimated at 8.8 per cent in December 2023, marking a decrease of 0.1 percentage point from the previous month, according to a recent report released by Turkish Statistical Institute (TURKSTAT) on Monday.

TURKSTAT data showed the labour force participation rate in December rose to 53.5 per cent from 53.0 per cent a month earlier, while a seasonally adjusted measure of labour under-utilisation rose 2.1 percentage points to 24.7 per cent.

The unemployment rate among the country’s youth – aged between 15 and 24 – declined to 15.5 per cent in December, compared to 16.3 per cent in the previous month, the report added.