Turkiye's unemployment rate hits 12-year low in May

The unemployment rate in Türkiye dropped to 8.4% in May, hitting the lowest rate since November 2012, official figures from the Turkish Statistical Institute (TurkStat) showed on Wednesday.

The rate was at 8.5% in April and 9.5% in May 2023, according to TurkStat's data.

The number of unemployed people dropped by 27,000 to 3.01 million in May on monthly basis.

Meanwhile, the number of employed persons increased by 273,000 to 32.9 million in May 2024 compared to the previous month.

The employment rate was at 50%, up by 0.4 percentage point, over the same period.

The youth unemployment rate - for the 15-24 age group - was 15%, up by 0.3 percentage point, on a monthly basis.