Minister Isikhan: Historic Decline in Unemployment, New Record in Employment Rate
Minister of Labor and Social Security Vedat Işıkhan announced that Turkey’s unemployment rate has reached its lowest level in recent years. According to labor force statistics for the period July-September 2024 released by the Turkish Statistical Institute (TurkStat), the unemployment rate fell to 8.7%, while the employment rate rose to 49.6%. In a statement on social media, Minister Işıkhan emphasized that these developments show the positive impact of economic policies on employment.
Increase in Employment and Decrease in Unemployment
In the third quarter of 2024, the number of employed people increased by 136 thousand to 32 million 734 thousand. In the same period, labor force participation increased remarkably to 35 million 840 thousand people. The number of unemployed decreased by 20 thousand people to 3 million 106 thousand.
New Targets for Women and Youth
Minister Işıkhan stated that the increase in the labor force participation rate reached 52.7% and announced that new steps will be taken to increase the participation of women and young people in employment. In line with the Medium Term Program (MTP) targets, the government announced that labor incentives for women and employment projects for young people will be put into effect.
Impact of Economic Policies
Stating that the decline in the unemployment rate is one of the positive results of the economic policies implemented, Işıkhan said that efforts are underway to further strengthen the labor market. “Turkey is succeeding in transforming economic growth into employment,” Işıkhan said, adding that they aim to bring more citizens into the labor market by maintaining the dynamism of the labor market.
Future Goals and Activities
Turkey continues to develop various projects and incentive programs to achieve its goals of increasing employment and reducing unemployment. The Ministry plans to offer support packages for employers, especially to increase women’s participation in business life and facilitate the process of finding a job for young people.
Increase in Female Employment Expected
It was announced that new regulations will be introduced to increase women’s participation in the labor force, and it is aimed to increase diversity in employment by introducing flexible working models and remote working. It is stated that these policies will facilitate the inclusion of young women in the labor market.
