According to data compiled by the Anadolu Agency from the Turkish Statistical Institute (TÜİK), the unemployment rate in Turkey reached its lowest level in the past 42 quarters, standing at 8.8% in the fourth quarter of last year. This marks the lowest level since the second quarter of 2013, and is indicative of a sustained downward trend in unemployment, accompanied by a simultaneous increase in the number of employed individuals.
The recorded unemployment rate for the final quarter of last year, at 8.8%, signifies a significant improvement from the previous years. This quarter’s rate mirrors the same figure recorded in the previous quarter, highlighting a consistent trend of decline in unemployment rates.
This achievement is noteworthy as it marks the lowest unemployment rate in 42 quarters, dating back to the third quarter of 2013 when the rate stood at 9%.
In contrast, the unemployment rate had surged to 14% in the third quarter of 2019, representing the highest rate in an 11-year period. However, the unemployment rate has been on a downward trajectory since the third quarter of 2020, reaching 12.9% in the fourth quarter of the same year.
A significant milestone has been achieved in the case of male unemployment, with the rate dropping to 7.2% in the final quarter of 2023. This is the lowest rate recorded since data collection began in 2005, surpassing the previous low of 7.8% in 2013.
Conversely, female unemployment increased from 10.4% in the first quarter of 2013 to 11.8% in the last quarter of 2023.
The overall employment rate in Turkey also saw improvement, rising from 44.2% in the first quarter of 2013 to 48.6% in the final quarter of 2023. During the same period, the employment rate for men increased from 63.9% to 65.8%, and for women, it rose from 25% to 31.6%.
The seasonally adjusted unemployment rates for the quarters spanning from 2013 to 2023 are as follows:
| 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1st Quarter | 8.6 | 9.4 | 10.5 | 10.2 | 11.9 | 9.9 | 13.8 | 12.8 | 12.9 | 11 | 9.9 |
| 2nd Quarter | 8.8 | 9.7 | 10.3 | 10.4 | 11.2 | 10.5 | 13.7 | 13.6 | 12.4 | 10.6 | 9.6 |
| 3rd Quarter | 9 | 10.1 | 10.1 | 11.3 | 10.5 | 11.1 | 14 | 13.2 | 11.6 | 10 | 9.2 |
| 4th Quarter | 9.1 | 10.4 | 10.2 | 11.7 | 10.1 | 12.2 | 13.4 | 12.9 | 11.1 | 10.2 | 8.8 |
The data reflects a positive trend in the labor market, showcasing Turkey’s efforts in reducing unemployment rates and fostering economic stability. The consecutive decline in unemployment rates, especially to the lowest level in over eight years, is a promising indicator for the country’s economic outlook.
source: aa.com.tr / prepared by Melisa Beğiç