Invest News Detail
In February 2024, Türkiye's labor market experienced significant improvements in employment figures and reductions in unemployment rates, indicating a strong economic trajectory.
According to the latest data, the number of employed individuals increased by 147,000 month-on-month, reaching a total of 32.42 million. This uptick is part of a broader, positive trend in the labor force, which now totals 35.50 million people—an increase of 38,000 from January 2024.
The overall employment rate saw a slight improvement, rising to 49.3 percent, up 0.2 percentage points from the previous month. This increase reflects continued economic recovery efforts and increased participation across various sectors. Notably, the employment rate for males stood at 66.5 percent, while it was 32.5 percent for females.
With the unemployment rate falling to 8.7 percent, down 0.3 percentage points from January 2024, Türkiye's labor market continues to show resilience and promise for the future. The rate for males was at 7.3 percent, while it was slightly higher for females at 11.3 percent.
Furthermore, youth unemployment also saw a significant decrease, with the rate for the 15-24 age group dropping by 0.8 percentage points to 15.6 percent.
Commenting on the latest employment data, Vice President Cevdet Yılmaz highlighted major achievements, stating, "As of February, our employment figures have surpassed 32.4 million, with an employment rate of 49.3%—the highest in our history. Moving forward, we are committed to enacting policies that ensure economic stability and foster job growth. We will focus particularly on harnessing the employment potential of young people and women."
The latest figures demonstrate Türkiye's labor market resilience and indicate a positive outlook for the future. With these ongoing trends, Türkiye is poised to bolster its economic foundations and sustain growth.