Unemployment Rate Declined in Turkey in August

Unemployment Rate Declined in Turkey in August TURKSTAT announced the unemployment figures. The unemployment rate in Turkey declined in August. Turkish Statistical Institute (TURKSTAT), announced workforce data for the month of August. According to the data the unemployment rate in Turkey in August fell by 0.8 percentage points to 13.2 percent compared to the same period of last year. During the mentioned period, the number of unemployed people decreased by 456 thousand people and fell to 4 million 194 thousand people. According to the data, the non-agricultural unemployment rate fell 1 point and was recorded as 15.7. In the said month, the youth unemployment rate covering the 15-24 age group has decreased by 1.3 percentage points to 26.1 percent. The unemployment rate also decreased by 0.8 points in the 15-64 age group and was calculated as 13.5 percent.   What Was the Employment Rate? The number of employed people decreased by 975 thousand people in August compared to the same month of the previous year and decreased to 27 million 554 thousand people. The employment rate was 43.9 percent with a 2.4 percentage point decrease. During the period in question, the number of employed decreased by 314 thousand in the agricultural sector, 91 thousand in industry, 717 thousand in service, and 147 thousand in construction. 19.2 percent of the employed were in agriculture, 19.8 percent in industry, 6.2 percent in construction, 54.7 percent in service sector.   What Was the Rate of Participation in the Workforce? In August, the labor force participation rate decreased by 1 million 431 thousand compared to the same month of the previous year and became 31 million 749 thousand people. The labor force participation rate decreased by 3.3 points to 50.6 percent. The proportion of unregistered employees, showing the share of those who are not affiliated to any social security institution, in the total employees decreased by 3.2 points in August compared to the last year and was recorded as 32.9 percent. The rate of informal workers in the non-agricultural sector decreased by 2.8 points to 20.6 percent in this period.