Türkiye’s jobless rate in 2024 hit 12-year low of 8.7%

Türkiye's unemployment rate in 2024 dropped 0.7 percentage points to a 12-year low of 8.7%, signaling a steady recovery in the job market, according to the latest figures released by the Turkish Statistical Institute (TurkStat) on Thursday.

The number of jobless age 15 and over fell by 151,000 from the previous year, bringing the total to 3.113 million.

Unemployment among men dropped from 7.7% in 2023 to 7.1% in 2024, while the rate for women dropped from 12.6% to 11.8%.

Meanwhile, labor force participation declined 0.9 percentage points to 54.2%. However, the employment rate climbed to 49.5%, up from 48.3% the previous year, reflecting a workforce of 32.62 million people.

Youth unemployment (age 15-24) also showed improvement, falling 1.1 percentage points to 16.3%. The rate for young men stood at 13.1%, while for young women it was 22.3%, down from 14.3% and 23.2% in 2023, respectively.