Turkey has the fourth highest unemployment rate among the 38 member countries of the Organization for Economic Cooperation and Development (OECD), according to the latest report of the organization published for November 2023.
The average unemployment rate in OECD countries remained at historically low levels with 4.8 percent as of November 2023, according to the reporting of the daily Sözcü.
Spain had the highest unemployment rate with 11.9 percent, followed by Colombia with 10.3 percent and Greece with 9.4 percent. Turkey and Chile share fourth place with unemployment rates of 9 percent.
Turkey has almost doubled the OECD average unemployment rate. In November, Turkey's unemployment rate ended its 4-month downward trend and rose from 8.6 percent to 9 percent.
Over 3.1 million people were unemployed in Turkey, while the total number of unemployed in OECD countries was 33.3 million. Almost one in every 10 unemployed people (9.3 percent) resided in Turkey during the period of interest.
The estimated unemployment rate in Turkey was 7.5 percent for men and 11.8 percent for women. The country ranks sixth in the male unemployment rate and third in the female unemployment rate.
The broadly defined unemployment rate was considered as 22.7 percent.
Turkey ranked last among OECD countries in terms of unemployment and last in terms of employment rate.
In the third quarter of 2023, the employment rate and labor force participation rate of the working population aged 15-64 in Turkey were 53.9 percent and 59.5 percent, respectively. Nearly 31.6 million people were employed in Turkey in November 2023.
The employment rate in the OECD was at a record level of 70.1 percent.