Iran needs at least $45,000 to create a single job

Baku, Azerbaijan, Dec. 6

By Fatih Karimov - Trend:

Iran needs at least $45,000 to create a single job.

Iran's Labor, Cooperatives and Social Welfare Minister, Ali Rabiei, said that in some industries, like the petrochemical industry, some $600,000 is needed to create a single job, the Mehr news agency reported on Dec. 6.

US dollar free market exchange rate is currently about 34,000 rials in Iran.

Meanwhile, the Iranian Deputy Labor, Cooperatives and Social Welfare Minister, Hassan Taee, said 400,000 new jobs will be created by the end of the current year.

Many laborers were laid off between 2011 and 2013, but the administration took effective measures in the current year to improve the situation, he said.

More than 700,000 jobs have been lost since the current administration took office in August 2013, according to the Statistical Center of Iran.

In August, Rabiei said one million jobs should be created per year to resolve the unemployment crisis in the country.

He added that 500,000 jobs will be created in the country by the end of the current Iranian calendar year (March 20, 2015).

In its World Economic Outlook for October, the International Monetary Fund projected a 2.2-percent real GDP growth for of Iran in 2015, dropping it from the 2.3 percent that was predicted in its April report.

Iran's real GDP growth picked up in 2014 with 1.5 percent growth and is expected to grow further by 2.2 percent in 2015, after two years of negative economic growth.

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