Unemployment of recent graduates in Iran (Iran VNC.com)

16.30 GMT-12:30 PM/EST
Employment prospects for a university graduate in Iran are quite dim.
In a report by the Iran Labor News Agency, [ILNA] the head of Irans Majlis Workers Fraction, Ali-Reza Mahjoub, was quoted as saying:
Unemployment for university graduates is double the rate of unemployment for regular individuals.
With only half of Iranian university graduates employed, the Majlis official added quote:
This matter is a disaster for society.
According to a report last month in the economic news website Sarmayeh, Irans overall unemployment rate is 9.6 percent, while the rate among the youth population is double.
Experts at Sarmayeh say that in order to keep pace with the young population and reduce unemployment, 1.6 million new jobs need to be created every year in Iran.
The lack of jobs in Iran has caused educated Iranians to flock toward other countries for better employment opportunities and financial security. The phenomenon has been referred to as Irans brain drain and is estimated by the BBC to cost Irans government over 40 billion dollars a year.
Unemployment and high inflation is at the source of Irans economic sores. In April of this year, the International Monetary Fund reported Irans inflation rate to be at 24.2 percent and recommended the country to quote: Slow domestic demand growth in order to lower inflation while stepping up structural reforms to increase the economys growth potential and employment creation.
In recent months, Iranian President Mahmoud Ahmadinejad has been increasingly criticized over his countrys economic policies.
In September, Majlis Deputy Hosseinali Shahriari from Irans southwest region expressed his discontent with the current governments monetary plans saying quote: Unemployment is oppressively rampant. The statistics they give are unrealisticif we had illiterate unemployed people, we now find several literate and educated members of each household unemployed.
On August 9th, the head of Irans Central Bank announced that Iran is considering a plan to change its monetary denominations to combat high inflation and unemployment. The directive is said to go into effect on October 21.

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