Economy, Business And Markets

830,000 Expected to Enter Labor Market

830,000 Expected to Enter Labor Market830,000 Expected to Enter Labor Market

Some 830,000 people are expected to enter Iran’s labor market in the next fiscal year (March 2018-19), 70% of whom will be university graduates, Government Spokesman Mohammad Baqer Nobakht said on Sunday. According to Chairman of Majlis Planning and Budget Commission Gholamreza Tajgardoun, there are nearly six million unemployed university graduates in the country and the government has proposed the allocation of 600 trillion rials ($13.95 billion) for job creation in the budget bill, Mehr News Agency reported. More than 20.65 million people were employed in Iran during the last fiscal year (March 2016-17), 83.8% of whom were men and 16.2% were women, the Statistical Center of Iran announced. SCI data also show 21.6% of the employed men and 48% of the employed women had academic education. Close to 7 million people were active in the gray market, of whom nearly 1.5 million were women. Iran’s unemployment rate stood at 12.4% last year, registering a 1.4% rise compared with the year before.

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