UPDATE - Türkiye's unemployment rate rises to 8.5% in August

UPDATES WITH REMARKS FROM TURKISH VICE PRESIDENT

By Mucahithan Avcioglu

ISTANBUL (AA) - Türkiye’s unemployment rate increased to 8.5% in August from 8% the previous month, the country’s statistical authority said Tuesday.

The Turkish Statistical Institute (TurkStat) reported that the number of unemployed people aged 15 and over rose by 168,000 to 3.04 million.

Joblessness stood at 6.8% among men and 11.6% among women in August.

Meanwhile, employment also rose, with 208,000 more people working, bringing the total number of employed to 32.83 million. The overall employment rate was 49.4%, including 66.6% for men and 32.6% for women.

The labor force climbed by 376,000 to 35.87 million, with the participation rate at 54%.

Youth unemployment – covering those aged 15 to 24 – increased by 0.8 percentage points from July to 16% in August. It was 12.4% for men and 22.7% for women.

Evaluating the data, Türkiye's Vice President Cevdet Yilmaz emphasized that employment increased by over 200,000, and the unemployment rate has remained stable in single digits for 28 months.

"The unemployment rate, which is of great importance in terms of economic as well as social policies, has maintained its stable course in single digits for 28 months," Yilmaz wrote on Turkish social media platform NSosyal.

"Moreover, our employment increased by over 200,000 in August. As we proceed with a determined and holistic approach to combating inflation, we prioritize increasing employment, a fundamental element of social development, and we are addressing our goal of reducing unemployment in a multifaceted manner," he said.

He added that by the end of the medium term program period, they aim to reduce the unemployment rate to below 8% for the first time in its history and create approximately 2.5 million additional jobs in the economy, ensuring the participation of more individuals in the labor market and increasing social welfare.