CEO Farzad Rashidi stated that all 45 of their workers are currently unemployed, with the men now working as taxi drivers and the women returning to their roles as housewives. Interviews conducted by Reuters with numerous business owners in Iran have revealed that many companies have halted production and thousands of employees are being laid off due to a challenging business environment created by new US sanctions. The Iranian rial has experienced significant depreciation and economic activity has considerably slowed down following President Trump's decision to withdraw from the nuclear deal with Tehran and impose sanctions targeting US dollar purchases, gold trading, and the automotive industry in August. In November, Iran's important oil and banking industries were affected. Due to losing approximately five billion rials ($120,000 at the official exchange rate) in recent months, all activities have been suspended by the board until the currency market stabilizes. Rashidi stated, "It is illogical to persist when you realize it is a hopeless situation." This year, the country has witnessed turmoil as young demonstrators, upset over unemployment and rising costs, clashed with security forces. With sanctions exacerbating the economic crisis, official forecasts suggest that unrest may resurface. Four days prior to being dismissed by parliament in August for not adequately protecting the job market from sanctions, labor minister Ali Rabiei stated that Iran would lose one million jobs by the end of the year due to US measures. Current unemployment stands at 12.1 percent, with three million Iranians struggling to find work. A parliamentary report in September cautioned that increasing unemployment could jeopardize the stability of the Islamic Republic. The report warned that if economic growth remains below 5 percent in the coming years, unemployment could reach 26 percent. The International Monetary Fund has predicted that Iran's economy will shrink by 1.5 percent this year and by 3.6 percent in 2019 as a result of declining oil revenues. Iran's vice president has expressed concern that sanctions will lead to unemployment and a decrease in purchasing power. He emphasized the importance of creating jobs and preventing productive businesses from stagnating due to sanctions. However, business owners have cited a variety of factors, such as inconsistent government policies, currency fluctuations, rising raw material prices, and high-interest bank loans, as making it impossible for them to stay afloat. As a result, many companies have been unable to pay wages or have been forced to lay off workers. One major textile factory is even considering shutting down, putting hundreds of jobs at risk. The manager mentioned that approximately 200 workers were let go in August, and things have only gotten worse since then. There is a strong possibility that the factory will close down. The CEO of Takplast Nour, Ahmad Roosta, had initially hoped that a drought in Iran would benefit his newly established factory that manufactures plastic pipes for agricultural purposes. However, Roosta expressed concerns that if the situation does not improve within the next month or two, he will be forced to shut down the factory as farmers, the main customers of their products, are unable to purchase them due to financial constraints. The Iranian car industry has been impacted by sanctions, leading to the suspension of joint ventures with French and German companies. More than 300 auto parts makers have had to stop production, putting tens of thousands of jobs at risk. According to a spokesperson for Iran's Tire Producers Association, changing monetary policies by the government have caused problems in the sector. Despite this, tire factories have not slowed down as planned production growth has not been achieved. Youth unemployment in Iran is a pressing issue, with economic pressures from Washington primarily targeting the government and its proxies rather than the Iranian people. However, the country's young population, especially those like Maryam who recently lost her job as a public relations manager in a food import company, are the ones most affected. The company she worked for had to lay off employees due to high prices and a decrease in customers, with fears that the business may eventually shut down altogether. In a country where 60 percent of the population is under 30, youth unemployment is currently at 25 percent. Official data shows that in certain areas, the unemployment rate among young people with higher education is over 50 percent. Armin, a 29-year-old with a mechanical engineering degree, lost his job in the housebuilding industry due to a recession following the fall of rial. He expressed his concerns about the slowing property market and rising house prices making homes unaffordable in his city of Rasht, northern Iran. Nima, a legal adviser specializing in startups and computer firms, believes that sanctions have already impacted many companies in the sector that relied on exports and had plans for regional expansion. He pointed out that even the gaming industry in Iran has been affected by the sanctions, with many development teams halting their projects due to limited access to international markets. On the other hand, Tehran-based economist Saeed Laylaz attributed youth unemployment in Iran to demographic factors and government policies, stating that sanctions were exacerbating an existing problem. Despite the challenges posed by sanctions and economic uncertainties, Laylaz expressed optimism that the market would eventually stabilize. Laylaz, who recently met with Rouhani and other economists to provide guidance on economic policies, stated that they will overcome the current sanctions just as they have done in the past.