Türkiye posts unemployment rate of 8.4% in September

The number of unemployed people aged 15 and over rose by 198,000 month-on-month to reach 2.97 million, the official figures showed.

Unemployment rates continued to differ significantly by gender, standing at 6.9% for men and 11.3% for women.

Among people aged 15-24, the jobless rate rose by 1.6 percentage points from August to 14.8%. The rate stood at 10.4% for young men and 23.3% for young women.

Meanwhile, the number of employed people in Türkiye declined by 49,000 to 32.45 million in September. The employment rate edged down by 0.1 percentage points to 48.3%, reaching 65.8% among men and 31.2% among women.

Despite the decline in employment, the country’s labor force expanded by 149,000 people to 35.41 million during the month.

The labor force participation rate increased by 0.1 percentage points to 52.7%. Participation stood at 70.7% for men and 35.2% for women, according to the Turkish Statistical Institute.

Earlier, it was reported Türkiye's Central Bank lowered the policy rate to 36% after five consecutive holds.