Thursday, Jun 04

Turkey's unemployment falls to 13.6 percent in February

The youth unemployment rate, including people age 15-24, was 24.4% in February, down 1.7 percentage points on a yearly basis.
11.05.2020 - 11:32

Unemployment in Turkey dropped to 13.6% this February, down 1.1 percentage points from the same month last year, the Turkish Statistical Institute (TurkStat) announced Monday.

The number of unemployed persons age 15+ slipped by 502,000 year-on-year to 4.23 million by the end of February.

THE LABOR FORCE PARTICIPATION RATE ALSO WENT DOWN

On a monthly basis, February's figure also dropped 0.2 percentage points, as unemployment in January stood at 13.8%.

Official data also showed that non-agricultural unemployment fell 1.5 percentage points to 15.4% during the same period. In February, employment posted a decrease of 1.7 percentage points from the same month last year, down to 43.1%.

"The number of employed persons decreased by 602,000 to 26.8 million persons in February 2020 period, compared with the same period of the previous year," TurkStat said.

The labor force participation rate also went down by 2.6 percentage points year-on-year, falling to 49.9% in the month.

The labor force participation rate for males dropped 2.4 percentage points to 69%, and for females it was 31.2%, an annual decline of 2.8 percentage points.