Unemployment rate decreased in the second quarter

TUIK published Labor Force Statistics data for the second quarter of 2023.

Accordingly, the number of unemployed people aged 15 and over decreased by 73 thousand people in the second quarter of 2023 compared to the previous quarter and became 3 million 400 thousand people. The unemployment rate decreased by 0.3 percentage points to 9.7 percent. Unemployment rate was estimated as 7.8 percent for men and 13.4 percent for women.

Youth unemployment rate was 18.3 percent

Youth unemployment rate, which covers the 15-24 age group, decreased by 1.2 percentage points compared to the previous quarter and became 18.3 percent. Unemployment rate in this age group was estimated as 15.1 percent for males and 24.1 percent for females.

Broad-defined unemployment rate was 23.5 percent
In the second quarter of 2023, the idle labor force ratio, which is composed of time-related underemployment, potential labor force and unemployed, increased by 1 percentage point q-o-q to 23.5 percent. While the integrated rate of time-based underemployment and unemployed was 16.5 percent, the integrated rate of potential labor force and unemployed was estimated as 17.3 percent.

In the TUIK bulletin, it was stated that since the Household Labor Force Survey for February and March could not be conducted in some provinces due to the earthquake disaster in our country, the results for the first quarter of 2023 were calculated by weighting the provinces that could be surveyed to give an estimate on the basis of Turkey.

According to the information given, as of the second quarter of 2023, the survey could be conducted across the whole country, including the provinces affected by the earthquake, and for this reason, standard weighting was applied. In addition, in order to reflect the earthquake effect in the indicators for the relevant months, an additional survey was conducted and the unadjusted and seasonally and calendar adjusted results for the first quarter of 2023 were recalculated and revised retrospectively in the relevant statistical tables and database.