FX.co ★ Turkish Jobless Rate Rises to 4-Month High

In August, Turkey experienced a rise in its seasonally adjusted unemployment rate, which climbed to 8.5% from July's revised figure of 8.1%. This marked the highest rate since April. The number of unemployed individuals increased by 168,000, reaching a nine-month high of 3.04 million. Concurrently, employment saw a rise of 208,000, achieving a record high of 32.83 million, which nudged the overall employment rate to 49.4%, up from 49.1%. Employment among men increased to 66.6% from July's 66.1%, while women's employment slightly rose to 32.6% from 32.4%. Labor force participation climbed to an eight-month high of 54.0%, up from 53.4%. Additionally, the unemployment rate among youth (ages 15-24) rose to 16.0% in August, compared to 15.2% in July.