Unemployment in Türkiye falls to its lowest levels in ten years

Official data showed on Monday that the unemployment rate in Turkey fell 0.5 percent on a monthly basis to record 8.5 percent in October, its lowest level in ten years after recording a decline for more than two years.

The seasonally adjusted index of labor underutilization decreased by 0.5 percent to 21.3 percent in the same period.

Data from the Turkish Statistical Institute showed that the labor force participation rate in the labor market in October recorded a slight increase to 53.1 percent from 53.2 percent in the previous month.

Unemployment, which was revised from 9.1 percent to 9 percent in September, has declined over the past four months.

The unemployment rate is at its lowest levels since November 2012 and has moved away from its highest levels in mid-2020, when it exceeded 14 percent.