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Unemployment rate drops to 7.3% in three months: SCI
The examination of the trend of changes in the unemployment rate indicates that the index had decreased by 0.4 percent compared to the same period last year.
In Spring 1404, 41.2 percent of the population aged 15 and over were economically active, meaning they were either employed or unemployed.
The employed population aged 15 and over in the period was 25,123,000, which is an increase of approximately 377,000 compared to the same time last year. Also, the economically inactive population (including students, homemakers, those with income without work such as retirees, etc.) was 38,739,000, which is an increase of approximately 510,000 compared to the same period last year.
An examination of employment in major economic sectors showed that in Spring 1404, the services sector accounted for the largest share of employment with 52.4 percent. The industry sector followed with 33.0 percent, and agriculture with 14.6 percent.
The youth unemployment rate for those aged 15 to 24 indicates that 19.7 percent of the active population in this age group were unemployed in Spring 1404. An examination of seasonal changes in the unemployment rate for these individuals showed that this rate has decreased by 0.3 percent compared to the same season last year (Spring 1403).
An examination of the unemployment rate for the 18 to 35 age group also showed that in Spring 1404, 14.5 percent of the active population in this age group were unemployed. This is while seasonal changes in the unemployment rate for these individuals showed that this rate has decreased by 0.5 percent compared to Spring 1403.
An examination of the share of the underemployed population aged 15 and over indicated that in Spring 1404, 6.6 percent of the employed population worked less than 44 hours per week for economic reasons (off-season, business slowdown, inability to find more hours, etc.) and were ready to do additional work. This is while 40.1 percent of employed individuals aged 15 and over worked more than 49 hours per week.