Labor Market Outlook: October 2024

DECLINE IN UNEMPLOYMENT RATE, INCREASE IN ALTERNATIVE UNEMPLOYMENT RATES

Seyfettin Gürsel, Saliha Tanrıverdi

An increase of 78 thousand people in employment and a decrease of 89 thousand people in the number of unemployed reduced the labor force by approximately 10 thousand, and the general unemployment rate decreased by 0.3 points from July to August, reaching 8.5 percent.

Seasonally adjusted female unemployment rate decreased from 12.2 percent to 11.4 percent as a result of the 126 thousand increase in employment and the 96 thousand decrease in the number of unemployed from July to August. The male unemployment rate remained constant at 7 percent in August, as a result of a decrease of 48 thousand people in employment and an increase of 7 thousand people in unemployed. While the female labor force level increased by 31 thousand, the male labor force level decreased by 41 thousand. As a result of these developments, the gender gap in unemployment rates decreased by 0.8 points to 4.4 points in August.

doc. LaborMarketOutlook2024M10

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