Page 18 - IRANRptMar20

times and employment scores improved.
The reading for exports in the fifth month fell from to 44.65 from 46.84.
4.3 ​Labour and income
4.3.1​ Labour market, unemployment dynamics
Unemployment rate stood at 12.4% in last fiscal year
According to the Statistical Centre of Iran (SCI), the country’s unemployment rate in the last fiscal year (ended March 20) stood at 12.4%, 1.4% up on the previous year. ​However, the actual unemployment rate is likely to be higher than that given methodology which means that if a person has just one hour of work a week officials count them as employed.
Youth unemployment (covering the 15-29 age range), ​stands at least twice the general joblessness rate,​ according to latest available data, while university graduate unemployment is thought to be around 40%.​ ​Despite the many times the government has stressed the need to boost employment, overall youth unemployment has risen more than 5% in the past three years.
The minimum monthly salary in Iran stands at IRR9.3mn ($240), while the average monthly salary stands at IRR23.3mn ($617) per month, according to a report from the ​Financial Tribune​ on April 15. ​The report shows that living conditions in the country have improved following several years of a drop in the quality of life, due to the removal of sanctions.
The average Iranian earns IRR278.8mn ($7,416) per annum. However, the report noted the average family spends on average 262.3mn ($6,978) per year so little is made in savings. The report also added that the average household consists of 3.4 members and that families of four now account for 30.4% of the society. The majority of families (59.8%) have only one breadwinner. Housing costs account for the biggest slice of income expenditure.
The IMF’s World Economic Outlook released last October forecast that unemployment would increase to 12.8% in 2018 and 14.3% in 2019.
18​ IRAN Country Report​ March 2020 www.intellinews.com