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FinancialNews
26-03-23
Türkiye's Unemployment Rate Drops to 10.4 percent in 2022, with Increase in Employment
(MENAFN) Official figures released by the Turkish Statistical Institute (TurkStat) on Thursday revealed that the unemployment rate in Türkiye dropped to 10.4 percent in 2022, down from 12 percent in 2021. The number of unemployed people aged 15 years and over decreased by 337,000 to 3.58 million in 2022 compared to the previous year.
The unemployment rate for men was at 8.9 percent and for women, it was at 13.4 percent in 2022. The number of employed people in Türkiye increased by 1.95 million on a yearly basis to reach 30.75 million last year.
The youth unemployment rate for the 15-24 age group was at 19.4 percent in 2022, which was a decrease of 3.2 percentage points compared to the same period. TurkStat highlighted that in 2022, 15.8 percent of total employment was in agriculture, 21.7 percent was in industry, 6.0 percent was in construction, and 56.5 percent was in the services sector.
The drop in unemployment rate in Türkiye is a positive sign for the country's economy, which was affected by the COVID-19 pandemic and related restrictions. The government has been implementing various measures to support job creation and economic recovery, including tax incentives for businesses and financial support for small and medium-sized enterprises.
The increase in the number of employed people is a promising development for Türkiye's job market. However, the youth unemployment rate remains high, indicating that more efforts are needed to create job opportunities for young people. The government has been working to address this issue by implementing policies and programs to support youth employment, including vocational training and internship programs.
The services sector remains the largest employer in Türkiye, followed by industry and agriculture. The country has been seeking to diversify its economy and promote the growth of various sectors to create more job opportunities and reduce dependence on a single sector. The growth of the job market is crucial for Türkiye's economic recovery and the well-being of its citizens.
MENAFN26032023000045014228ID1105862030
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