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Iranian labor minister announces plan to create 500,000 new jobs

Business Materials 16 August 2014 14:44 (UTC +04:00)

Baku, Azerbaijan, Aug.16
By Fatih Karimov - Trend:

The Iranian labor minister has said a plan has been developed aimed to create 500,000 jobs by the end of the current year.
Labor minister Ali Rabiee said the Ministry has initiated a plan jointly with the planning department of the presidential office to create 500,000 jobs by the yearend, Iran's Mehr news agency reported on August 16.

The Iranian calendar year starts on March 21.

About $3 billion will be invested in the job creation plans, he added.
The US exchange rate in Iran is currently around 31,000 rials.

Previously, Iranian president Hassan Rouhani said 190,000 new jobs are projected to be created by the end of the current year.
Iran's unemployment rate during the first quarter of the country's current fiscal year (March 21 - June 20) stood at 10.7 percent.

The unemployment rate among Iranians above 10 years old in the mentioned three-month period was 0.1 percent more than the same period of time in the preceding year, according to the latest report of the country's Statistical Center, released on July 21.

The figure also indicates a 0.2 percent increase compared to the preceding quarter's unemployment rate (Dec. 22 - March 20).
While about 2.4 million of Iranians above 10 years old were jobless in the mentioned three-month period (ended on March 20), the figure reached 2.53 million by June 20.

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