CEO Farzad Rashidi stated that all 45 of their workers are currently unemployed. The male employees have resorted to driving taxis while the female employees have returned to being housewives. Numerous business owners in Iran have reported to Reuters that their companies have halted production and thousands of workers have been laid off due to a challenging business environment, primarily caused by new US sanctions. The value of the Iranian rial has dropped significantly and economic activity has decreased substantially since US President Donald Trump pulled out of the nuclear deal with Tehran in May. In August, he implemented sanctions targeting purchases of US dollars, gold trading, and the automotive industry. Iran's oil and banking industries suffered significant blows in November, with losses totaling around five billion rials. As a result, all activities have been suspended until the currency market stabilizes. Rashidi stated that continuing operations in the current economic climate would be foolish, likening it to driving down a dead end. Earlier in the year, the country faced unrest due to high unemployment and rising prices, leading to clashes between protestors and security forces. There are concerns that the economic crisis will worsen with the imposition of sanctions, potentially sparking further unrest. Four days before being dismissed by parliament in August for not adequately protecting the jobs market from sanctions, labor minister Ali Rabiei predicted that Iran would see a million job losses by the end of the year due to US measures. Current unemployment is at 12.1 percent, leaving three million Iranians without work. A parliamentary report in September warned that the increasing unemployment rate could threaten the stability of the Islamic Republic. The report stated that if economic conditions do not improve, with an inflation rate of 10 percent and unemployment at 12 percent, the intensity of protests could increase dramatically. If Iran's economic growth remains below 5 percent in the future, unemployment could skyrocket to 26 percent. The International Monetary Fund has forecasted a contraction of Iran's economy by 1.5 percent this year and 3.6 percent in 2019, primarily due to decreasing oil revenues. Iran's vice president has expressed concerns about the impact of sanctions on Iran, particularly in terms of unemployment and decreased purchasing power. He emphasized the importance of creating jobs and ensuring that productive companies do not suffer due to sanctions. However, business owners have criticized the government's monetary policies, exchange rate fluctuations, rising costs of raw materials, and high interest loans from banks, which have led to difficulties in staying afloat. Some companies are unable to pay wages or are forced to lay off workers, with one major textile factory even considering halting operations, potentially leading to hundreds of job losses. The manager, who preferred to remain anonymous, reported that around 200 workers were laid off in August, and the situation has continued to deteriorate. There is a strong likelihood that the factory will close down. Ahmad Roosta, the CEO of Takplast Nour, had initially been optimistic that a drought in Iran would benefit his recently established factory, which manufactures plastic pipes for agricultural use. However, he now acknowledges that he may have to cease operations if the current circumstances persist, as the farmers, who are the primary buyers of their products, are unable to purchase them due to financial constraints. The Iranian car industry has been impacted by sanctions, which caused a decline after a period of growth when sanctions were lifted two years ago. French carmaker PSA Group and German manufacturer Daimler have both taken steps to avoid US sanctions by suspending joint ventures and dropping expansion plans in Iran. This has led to more than 300 auto parts makers halting production, jeopardizing tens of thousands of jobs. The Iran Tire Producers Association attributed issues in the sector to the government's changing monetary policies over the past six months. Mostafa Tanha, a spokesperson for the association, expressed disappointment in the sector's failure to achieve planned production growth due to these challenges. Washington claims that the economic pressures on Tehran are specifically aimed at the government and its allies in the region, rather than the Iranian people. However, young Iranians, who are experiencing high levels of unemployment, are the ones most affected by the situation. For example, Maryam, who worked as a public relations manager in a food import company, recently lost her job due to a decrease in customers and the company's decision to halt imports. She and her colleagues are concerned about the company potentially shutting down after selling off its inventory. In a country where 60 percent of the 80 million population is under 30, youth unemployment is already at 25 percent. Official data shows that in some parts of the country, the unemployment rate among young people with higher education is above 50 percent. Armin, 29, who holds a degree in mechanical engineering, lost his job in the housebuilding industry due to the recession caused by the fall of the rial. He mentioned that the property market is slowing down because high prices have made houses unaffordable, and the situation is worsening day by day in the city of Rasht in northern Iran. Nima, a legal adviser specializing in startups and computer companies, believes that sanctions have already had an 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 by the sanctions, causing many development teams to pause their projects and wait for further developments. Saeed Laylaz, an economist in Tehran, was more optimistic, attributing youth unemployment to Iran's demographics and government policies, with sanctions exacerbating an already existing issue. Laylaz predicted that despite the challenges posed by sanctions and economic uncertainties, the market would eventually stabilize. Laylaz, who recently met with Rouhani along with other economists to provide guidance on economic policies, expressed confidence that they will overcome the current round of sanctions just as they have in the past.