Iran Reports Job Losses and Currency Drop After Strikes and Blockade

Iran has lost at least one million jobs and possibly two million since the war with Israel and the United States began. Nearly 300,000 people have filed for unemployment insurance, and job-search websites have crashed under the volume of applications.

U.S. and Israeli strikes hit steel plants and petrochemical facilities. A U.S. blockade of the Strait of Hormuz cut off imports, and the rial fell to 1.75 million per U.S. dollar.

Iran shut down internet access during protests in January and again during the war. Service has been restored, but many workers who depended on online business lost customers. Steel and petrochemical plants closed after the strikes, idling tens of thousands of workers. Downstream manufacturers of car parts, building materials, food, and medicine reported shortages of domestic inputs.

Official data show inflation near 85 percent overall and 130 percent for food. Edible oils rose 266 percent, meat and chicken 169 percent, and eggs and dairy 161 percent. Public transit in Tehran was free during the war, but fares for taxis and intercity buses have increased 21 percent.

The minimum wage, after a 60 percent raise, stands at roughly $100 per month. Sara, a graphic designer in Tehran, said she had no idea how she would survive after losing design commissions. Majid, a computer engineer, and Alireza, a dairy worker, both reported recent layoffs and rising prices for basic goods.

A laptop seller said annual mobile-phone imports had dropped from eight or nine million units to fewer than 50,000.