Iran reports lowest unemployment rate in 25 years at 8.9%

Iran reports lowest unemployment rate in 25 years at 8.9%

Iran’s unemployment rate has dropped to its lowest point in the past 25 years mainly because the country’s economically active population has shrunk because of the spread of the coronavirus pandemic, according to a report by the Iranian government’s statistics agency.

A Wednesday report by the Statistical Center of Iran (SCI) showed that jobless rate had dropped 0.5% year on year over the quarter to December 21 to stand at 8.9%.

According to Press TV, the SCI said the figure was the lowest on record for Iran’s labor market since 1996 although it insisted that lower jobless rate did not necessarily mean that Iran had created more jobs over the past year.

“This declining trend does not mean more employment but it is due to the spread of the coronavirus disease which has caused many young adults to leave the labor market after failing to find a proper job,” and…

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