Economy, Domestic Economy

15.6% of Graduates Lack Jobs

15.6% of Graduates Lack Jobs
15.6% of Graduates Lack Jobs

Occupation Cooperative Organization of Academic Graduates (OCOAG) has published a list of different academic field of studies with the most graduates among the unemployed.

Based on the list, the average unemployment rate for university graduates is 15.6% which is far more than the official 10.7% rate announced for the country, reported Isna.

According to the latest census conducted in the Iranian calendar year 1392 (March 2013-March 2014), over 18% of the population have post-secondary education.

The OCOAG studies suggest that by the next seven years, the country will have as many as 61 million active populations. Based on such prediction, some 29 million jobs are required to maintain the pace of population growth.

Experts say the inflation, output gap, economic uncertainty associated with an unstable currency, and the devastating impact of Iraqi war are among the main causes of increasing unemployment in Iran.

Based on statistics provided by the Central Bank of Iran (CBI), the unemployment rate increased to 10.7% in the second quarter of 2014 from 10.5% in the first quarter of the year. Unemployment Rate in the country averaged 11.76% from 2001 until 2014, reaching an all time high of 14.7% in the first quarter of 2002 and a record low of 9.5% in the fourth quarter of 2008.