FX.co ★ Turkish Jobless Rate Eases in May

In May, Turkey's seasonally adjusted unemployment rate experienced a slight decline, moving down to 8.4% from 8.6% recorded in April. The number of unemployed individuals decreased by 69,000, reaching a total of 2.972 million. Concurrently, employment figures rose by 100,000, amounting to 32.519 million, which contributed to a marginal increase in the employment rate, moving it up to 49.0% as compared to the revised figure of 48.9% from the previous month. The employment rate among men saw a minor uptick to 66.3%, whereas the rate for women remained stable at 32.2%. The labor force participation rate stood firm at 53.5%. Notably, unemployment among the youth demographic, ages 15 to 24, showed a decrease, falling to 15.4% from 15.7% in April.