Labor Market Outlook: August 2024

SHARP INCREASE IN UNEMPLOYMENT

 Seyfettin Gürsel, Saliha Tanrıverdi

 The decrease in employment by 341 thousand and the increase in the number of unemployed by 234 thousand reduced the labor force by approximately 107 thousand people, and the general unemployment rate increased by 0.7 points from May to June, reaching 9.2 percent. Seasonally adjusted female unemployment rate increased by 1.1 points and reached 12.4 percent as a result of the 231 thousand decrease in employment from May to June and the 129 thousand increase in the number of unemployed people. The male unemployment rate increased to 7.6 percent in June, as a result of a decrease of 109 thousand people in employment and an increase of 105 thousand people in unemployed. While the female labor force level decreased by 103 thousand, the male labor force level decreased by 5 thousand. As a result of these developments, the gender gap in unemployment rates increased by 0.6 points in June and became 4.8 points.

doc. LaborMarketOutlook2024M8

pdf. LaborMarketOutlook2024M8