Turkey's unemployment rate has reached its lowest level in the last 11 years.

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Minister of Labor and Social Security Vedat Işıkhan announced that Turkey has reached the lowest unemployment rate in the last 11 years.

Minister Işıkhan stated in a social media post regarding the third quarter labor force statistics announced by the Turkish Statistical Institute, "Our economic policies are strongly continuing to create employment. We have reached a historic peak in labor force participation and employment rates on a quarterly basis, while the unemployment rate has reached the lowest level in the last 11 years. In the third quarter of 2024, we increased our employment by 136,000 compared to the previous quarter. Thus, we raised our employment number to 32 million 734 thousand people, and our employment rate to 49.6 percent. The number of unemployed decreased by 20,000 during the same period, falling to 3 million 106 thousand people," he said.

"THE INCREASE PROVES THAT THE STEPS WE HAVE TAKEN ARE CORRECT"

Stating that the unemployment rate continues to remain in single digits at 8.7 percent, Işıkhan said, "The increase of 116,000 people in the labor force participation rate proves that the steps we have taken are correct. We will continue to increase our labor force, which has reached 35 million 840 thousand people. According to our Medium-Term Program (MTP) expectations, the unemployment rate, which has performed well, decreased by 0.5 points compared to the same period last year. Compared to the same period of the previous year, we recorded an increase of 1.2 points in our employment rate and 1 point in our labor force participation rate. In line with our MTP targets, we will continue our efforts to increase employment opportunities and reduce unemployment. We will steadfastly implement our steps to support the participation of young people and women in the labor market," he stated.