August Labor Force Statistics and Unemployment Rate Announced
Turkey's employment and price index results for August have been announced, sharing changes in the unemployment rate and S-PPI data.
According to data announced by the Turkish Statistical Institute for August, the general unemployment rate declined, while the Services Producer Price Index increased on both annual and monthly bases.
Decline in the Unemployment Rate
The number of unemployed persons aged 15 and over decreased by 106,000 in August compared to the previous month, recorded at 2 million 740 thousand people.
Unemployment Rate and Youth Population
While the nationwide unemployment rate dropped by 0.3 percentage points to 7.8 percent, the unemployment rate among the youth population was determined as 13 percent.
Increase in Employment Data
Total employment increased by 136,000 people in August, reaching 32 million 507 thousand people, bringing the employment rate to 48.4 percent.
Statements from Minister Işıkhan
Minister of Labor and Social Security Vedat Işıkhan emphasized that the announced unemployment figures have maintained their single-digit trend uninterruptedly for 40 months.
Services Producer Price Index
The Services Producer Price Index recorded an increase of 2.87 percent in August compared to the previous month, reflecting in market data.
Annual and Average Increases of the Index
The S-PPI increased by 32.66 percent compared to December of last year, by 33.29 percent compared to the same month of the previous year, and by 34.46 percent based on 12-month averages.