CEO Farzad Rashidi stated that all 45 of their workers are currently unemployed. According to Reuters interviews with multiple business owners in Iran, numerous companies have halted production and many workers are being let go due to new US sanctions creating a challenging business environment. The Iranian rial has dropped to unprecedented levels and economic growth has significantly declined following President Trump's decision to withdraw from the nuclear deal with Tehran and impose sanctions on US dollar transactions, gold trading, and the automotive industry in August. Iran's key oil and banking industries suffered a blow in November, leading to significant financial losses. As a result, all activities have been suspended until the volatile currency market stabilizes. Rashidi, a board member, emphasized the importance of recognizing when it is futile to continue in a certain direction. This decision comes amidst previous unrest in the country due to issues such as unemployment and high prices. With sanctions exacerbating the economic crisis, there are concerns that further unrest may erupt in the future. Four days prior to being dismissed by parliament in August for not adequately protecting the job market from sanctions, labor minister Ali Rabiei predicted that Iran would lose one million jobs by the end of the year as a direct result of US measures. Unemployment is currently at 12.1 percent, leaving three million Iranians without work. A parliamentary report in September warned that the increasing unemployment rate could pose a threat to the stability of the Islamic Republic. The report also highlighted that if Iran's economic growth remains below 5 percent in the future, unemployment could reach as high as 26 percent. The International Monetary Fund has forecasted a 1.5 percent contraction in Iran's economy this year and a further 3.6 percent decline in 2019 due to decreasing oil revenues. Iran's vice president has expressed concern over the impact of sanctions on the country, specifically highlighting unemployment and a decrease in purchasing power as the main threats. Eshaq Jahangiri emphasized the importance of job creation as a top priority to prevent productive firms from stagnating due to sanctions. However, business owners have cited challenges such as contradictory monetary policies, foreign exchange market fluctuations, rising raw material costs, and high interest loans from banks as factors making it difficult to sustain their businesses. As a result, many companies have been unable to pay wages or have had to lay off workers, with some considering halting operations altogether, leading to potential job losses for hundreds of workers. The manager, who requested to remain anonymous, stated that approximately 200 workers were let go in August, and the situation has deteriorated since then. There is a strong likelihood that the factory will close down. Ahmad Roosta, the CEO of Takplast Nour, expressed optimism that a drought in Iran would benefit his recently established factory, which manufactures plastic pipes for agricultural use. However, he mentioned to Reuters that if the current situation persists and farmers, the primary consumers of their products, are unable to afford them, he may have to shut down the factory within one or two months. The Iranian car industry has been impacted by sanctions, causing a setback after experiencing growth following the lifting of sanctions two years ago. French and German companies, such as PSA Group and Daimler, have suspended or dropped plans for business in Iran due to US sanctions. This has resulted in over 300 auto parts makers ceasing production, putting tens of thousands of jobs at risk. The Iran Tire Producers Association spokesperson attributed problems in the sector to the government's changing monetary policies in recent months, affecting production growth. Youth unemployment in Iran is a major issue, with economic pressures on Tehran primarily targeting the government and its proxies in the region. Despite claims that the Iranian people are not the intended targets, young Iranians are feeling the impact most severely. Maryam, a public relations manager at a food import company, recently lost her job due to high prices leading to a loss of customers. The company has stopped importing goods, and remaining employees fear the company may shut down after selling off its inventory. Youth unemployment in a country where 60 percent of the population is under 30 is currently at 25 percent. In some regions, the unemployment rate among young people with higher education is even higher, reaching above 50 percent according to official statistics. Armin, a 29-year-old mechanical engineering graduate, lost his job in the housebuilding industry due to a recession following the fall of the rial. He mentioned that the property market is slowing down due to high prices, making houses unaffordable, and the situation is deteriorating day by day. Nima, a legal adviser specializing in startups and computer companies, believes that sanctions have already had a significant impact on many companies in the sector that relied on exports and had plans for regional expansion. He mentioned that even the gaming industry in Iran has been affected, with many teams choosing to halt game development due to the lack of access to international markets. Saeed Laylaz, an economist based in Tehran, took a more optimistic view, attributing youth unemployment in Iran to demographic and governmental factors, with sanctions exacerbating an existing issue. Despite the challenges posed by sanctions, market uncertainty, and shifting government policies, Laylaz predicted that the economy and job market would stabilize in the near future. Laylaz, who recently met with Rouhani along with other economists to provide input on economic policies, stated that they will overcome the current sanctions just as they have successfully done in the past.