Türkiye’s unemployment rate hit a 12-year low in 2024, declining by 0.7 percentage points to 8.7%, according to data released by the Turkish Statistical Institute (TurkStat) on Thursday. The number of unemployed individuals aged 15 and over dropped by 151,000, reaching 3.113 million, while the unemployment rate for men fell to 7.1% and for women to 11.8%, down from 7.7% and 12.6% respectively the previous year.
These positive developments were welcomed by government officials. Labour and Social Security Minister Vedat Işıkhan noted on X that the unemployment rate fell below the 9.3% target set in the Medium Term Program, with employment figures rising by 988,000 to reach 32.62 million. The labor force participation rate also increased by 0.9 percentage points to 54.2%, while the overall employment rate climbed to 49.5%.
Youth unemployment saw further improvement, decreasing by 1.1 percentage points to 16.3%, with rates for young men and women dropping to 13.1% and 22.3% respectively. Vice President Cevdet Yılmaz highlighted that these improvements underscore the effectiveness of Türkiye’s National Employment Strategy and the government's sustained efforts to combat unemployment.
Officials stressed that these robust figures are a testament to the country’s broader economic policies aimed at boosting production, exports, and overall economic growth, while also addressing inflationary pressures. As Türkiye continues to generate employment and increase workforce participation, the government pledged to maintain its focus on employment-supporting policies to build on these gains in the coming periods.
