Iran to create 500,000 jobs if 5% economic growth materialized

Baku, Azerbaijan, Aug. 8

By Fatih Karimov - Trend: If Iran's economic growth rate hits 5 percent in the current Iranian fiscal year, some 500,000 jobs will be created in the country, Iranian Labor, Cooperatives, and Social Welfare Minister Ali Rabiei said.

He added that the previously failed plans in the job market will not be revived, Iran's Mehr news agency reported on August 8.

Any prediction on the unemployment rate is dependent on the economic growth rate, he said, adding that the issue is also dependent on the amount of investment.

There are signs of improvement and development in the job market despite the fact that oil revenues have dropped to half, Rabiei noted.

Iran's jobless rate fell to 10.8 percent in spring, which is corresponding to the first quarter of the current Iranian fiscal year.

On June 7, Rabiei said in order to attain a single-digit inflation rate, some 800,000-900,000 jobs should be created.

Iran created 400,000 jobs in its production and industry sectors in the past fiscal year, ended on March 20, after subtracting 200,000 workers who were laid off.

The Economy and Finance Minister Ali Tayebnia told Trend Jan. 29 that he predicted an economic growth of 3 to 4 percent for Iran in 2015. The figure announced by the Iranian minister is at least 5 times more than the optimistic estimations released by international bodies.

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