Vice President Cevdet Yılmaz stated that they expect employment increases, especially among women and youth, to continue with the strengthening of the relationship between growth and employment and the continuation of stable growth performance.
Vice President Cevdet Yılmaz stated that they expect employment increases, especially among women and youth, to continue with the strengthening of the relationship between growth and employment and the continuation of stable growth performance.
Yılmaz evaluated the “Labor Force Statistics 2023” data announced by the Turkish Statistical Institute in a post on his social media account.
Noting that the unemployment rate decreased by 1 percentage point to 9.4% in 2023 compared to the previous year, Yılmaz expressed that the unemployment rate fell to single-digit levels again after 9 years with an improvement beyond the 10.1% target set by the Medium-Term Program (OVP).
Yılmaz continued:
“The number of employed individuals reached 31 million 632 thousand in 2023, increasing by 880 thousand people in line with our forecast in the OVP. The decrease in the unemployment rate and the increase in employment during this period where we focus on combating inflation indicate the strong outlook of our labor market. While the employment rate increased by 0.8 percentage points to 48.3% in 2023 compared to the previous year, the labor force participation rate increased by 0.2 percentage points to 53.3%. Achievements consistent with the targets of the OVP were recorded in both the employment rate and the labor force participation rate.”
“The informal employment rate decreased by 0.7 percentage points in 2023 compared to the previous year” Highlighting that the labor force participation rate increased by 0.7 percentage points to 35.8% for women and by 1.8 percentage points to 45.6% for youth in 2023 compared to the previous year, Yılmaz noted that the unemployment rate decreased annually by 0.8 percentage points to 12.6% for women and by 2 percentage points to 17.4% for youth.
Yılmaz stated, “The increase of 2.9% in the number of employed individuals in 2023 was influenced by employment growth in the construction and services sectors. The informal employment rate decreased by 0.7 percentage points to 26.1% in 2023 compared to the previous year. With the strengthening of the relationship between growth and employment and the continuation of our stable growth performance, we expect employment increases, especially among women and youth, to continue.”
source: aa.com.tr/ prepared by Melisa Beğiç