Domestic Economy
0

Parliamentary Think Tank Puts Q1 Jobless Rate at 24 Percent

Given the significant rise in the number of economically inactive people, the unemployment rate is a misleading economic indicator when it comes to analyzing the impact of coronavirus crisis on the labor market
Parliamentary Think Tank Puts Q1 Jobless Rate at 24 PercentParliamentary Think Tank Puts Q1 Jobless Rate at 24 Percent

The official unemployment rate, according to the Statistical Center of Iran, stood at 9.8% in the first quarter of the current Iranian year (March 20-June 20), indicating a 1.1% decline compared with the same period of last year. 
But the true rate is much higher than the official figure of 24%, when taking into account people who dropped out of the labor force during the period, a report by Majlis Research Center, the research arm of the Iranian Parliament reads.
Given the significant rise in the number of economically inactive people, the unemployment rate is a misleading economic indicator when it comes to analyzing the impact of coronavirus crisis on the labor market. 
Salaried workers make up a small fraction of total employees in Iran. In actuality, self-employed people account for the bigger share of employment. 
 

Premium

Subscribe to the Financial Tribune to continue reading this article or Log in to your account if you are already a subscriber.

Find out more about our subsciption plans here.

Add new comment

Financialtribune.com