Iran’s jobless rate down 0.5% y/y in June quarter to 7.7%
Figures by the Statistical Center of Iran (SCI) show that jobless rate in the country dropped slightly in the June quarter.
SCI figures cited in a Wednesday report by the official IRNA agency showed that Iran's unemployment had reached 7.7% in the three months to June 20, down 0.5% compared to the same period last year.
Iran’s job market participation rate, which measures the percentage of people who are in the labor force, was 41.2% in the June quarter, flat from the same period in 2023.
A total of 24.746 million people from Iran’s population of above 15-year-olds were employed in the June quarter, up 0.44 million from the same previous period, SCI figures showed.
Some 38.228 million in the working age (16-64 years) were economically inactive in the three months to late June, up 0.431 million from the same quarter last year, the data showed
The services sector was responsible for the bulk of jobs in Iran’s economy in the June quarter with 52.4%, followed by manufacturing at 33% and agriculture at 14.5%, the SCI said.
It said that unemployment rate for 16-24 year-olds in Iran was 20% in the three months to late June, down 1.6% from the same period last year, adding that some 15% of 18-35 year-olds were jobless in the same quarter, a decline of 0.5% from last year figures.
Despite facing US sanctions that restrict its oil exports, Iran has relied on domestic resources of its economy to create more jobs for the youth.
Jobs have increased in the country in recent years mainly thanks to increased activity in manufacturing, mining and agriculture sectors.
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