Unemployment drops to single digits in January after five months

The number of unemployed people aged 15 and over decreased by 166 thousand people in January 2023 compared to the previous month, reaching 3 million 424 thousand people. The unemployment rate decreased by 0.5 points to 9.7 percent. While the data was measured in single digits again after 5 months on a monthly basis, broadly defined unemployment reached its peak in the last 6 months at 21.9 percent. TurkStat published the Labor Force Statistics data for January 2023. Accordingly, according to the results of the Household Labor Force Survey; The number of unemployed people aged 15 and over decreased by 166 thousand people in January 2023 compared to the previous month, reaching 3 million 424 thousand people. The unemployment rate decreased by 0.5 points to 9.7 percent. The unemployment rate was estimated to be 7.7 percent for men and 13.7 percent for women. The number of employed people increased by 354 thousand people in January 2023 compared to the previous month, reaching 31 million 837 thousand people, while the employment rate increased by 0.5 points to 48.9 percent. This rate was 66.9 percent for men and 31.2 percent for women.