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Financial News: Turkey Unemployment Rate Falls In May

Turkey Unemployment Rate Falls In May

07/13/2022 - 05:56:00 (RTTNews)

(RTTNews) - Turkey's jobless rate decreased in May, after remaining stable in the previous month, data from the Turkish Statistical Institute showed on Wednesday.

The seasonally adjusted jobless rate dropped to 10.9 percent in May from a steady rate of 11.2 percent in April, which was revised down from 11.3 percent.

In the corresponding month last year, the jobless rate was 13.2 percent.

The number of unemployed decreased by 56,000 to 3.785 million in May from 3.841 million in April.

Meanwhile, the employment rate rose to 47.8 percent in May from 47.3 percent in April.

The number of employed increased by 358,000 to 30.839 million in May.

The labor force participation rate came in at 53.6 percent in May, up from 53.2 percent in the previous month.

The youth unemployment rate, which applies to the 15 to 24 age group, rose to 20.3 percent in May from 20.1 percent in April.

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