Unemployment Rate Falls to 8.6% in March

According to the Household Labor Force Survey results, the number of unemployed individuals aged 15 and over decreased by 19 thousand people to 3 million 57 thousand people in March 2024 compared to the previous month.

The unemployment rate also decreased by 0.1 percentage point to 8.6%. The unemployment rate is estimated to be 6.8% for men and 12.0% for women. The number of employed persons increased by 139 thousand people to 32 million 588 thousand people in March 2024 compared to the previous month, and the employment rate increased by 0.2 percentage point to 49.5%. This rate was 66.9% for men and 32.5% for women.

The Decrease in Unemployment Rate Is Due to Several Factors

Nilüfer Çevikel, President of the Demirtaş Organized Industrial Zone Industrialists and Business People Association (DOSABSİAD), commented on the unemployment figures, saying, “According to the latest data from TÜİK, we see that the unemployment rate was 8.6% in March and the employment rate increased by 0.2 percentage point to 49.5%. The decrease in the unemployment rate may be due to several different factors. Firstly, an increase in employment generally reduces unemployment rates because more people find jobs. Especially during periods when seasonal jobs are intensive, when workers enter the workforce, there may be a short-term decrease in unemployment rates. However, this decrease is usually temporary and unemployment rates rise again when the job season ends.”

“The Employment Rate Shows the Positive Effects of Economic Policies”

Highlighting the increase in the employment rate, Nilüfer Çevikel said, “Reaching the highest employment rate in the country’s history shows the positive effects of the policies implemented within the Medium-Term Program. However, we should focus more on strategies that will activate potential labor forces, such as youth and women. Besides sectors that provide temporary employment such as tourism and agriculture, we should increase the qualified human resources by producing permanent solutions to structural problems. The importance of vocational training centers, which are tailored to meet job demands in collaboration with universities, is increasing. Workforce competitiveness should be enhanced by supporting branding and innovation, and the employment opportunities for individuals who can adapt to technological developments should be increased. Therefore, efforts in the fields of education and innovation are crucial in combating unemployment.”