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Iran’s unemployment rate to reach 15.9 by 2021 under best circumstances

Business Materials 28 August 2015 16:44 (UTC +04:00)

Baku, Azerbaijan, Aug. 28

By Khalid Kazimov - Trend:

The Iranian Parliament's Research Center has announced that by the Iranian year 1400 (2021) under best possible circumstances, that is, an economic growth of five percent, the number of unemployed Iranian people will surpass 4.1 million and unemployment rate will stand at 15.9 percent.

Also, during the Iranian years 1384 to 1392 (2005 - 2013) the number of university graduates in the country increased to 5.6 million, whereas youth employment increased to hit 2.2 million, Mehr news agency reported August 28.

Accordingly, if Iran's economic growth rate stands at one percent until 2021 (worse likely circumstances), by that year there will be 4.7 million jobless people in Iran and unemployment rate will hit 18.2 percent.

The research underlines that attaining unemployment rates below 10 percent will require economic growth rates bigger than five percent.

Minister of Labor Ali Rabiei said last week that an economic growth of 7 percent is needed in order to control unemployment.

"If we do not do something the number of unemployed people will hit 10 million by 1400," he stressed.

The Central Bank of Iran announced Iran's last year economic growth was three percent. It had been minus 1.9 percent for the preceding year and minus 6.8 percent for two years earlier.

The recent parliament report said in the 2005-2013 period, the number of Iranians between 15 to 24 years of age lowered by about 3.8 million.

During that period also, university graduates' number grew twofold to hit 11.2 million. This period saw a constant reduction in youth employment rate.

During the same period, the number of educated employed people increased from 2.9 million to 4.6 million.

During those years, youth employment reduced from 4.4 million to 2.2 million, meaning 2.2 million people went jobless in eight years.

Earlier reports by governmental centers had indicated that youth unemployment was two times general unemployment in Iran.

Rabiei had said a while ago that some university majors are experiencing unemployment rates of 45 percent among graduates.

Economy Minister Ali Tayyebnia also said recently that in near future about eight million people will be looking for jobs.

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