Iraq’s unemployment rate set to hit decade high in 2024
The foundation revealed that unemployment is expected to rise to 16.3 percent next year, marking a significant increase from previous years.
ERBIL (Kurdistan24) – The unemployment rate in Iraq is projected to reach its highest level in a decade in 2024, according to a recent report by the Future Iraq Foundation, headed by Manar al-Obaidy.
The foundation revealed that unemployment is expected to rise to 16.3 percent next year, marking a significant increase from previous years. The unemployment rate stood at 15.6 percent in 2023 and 15.5 percent in 2022. By comparison, rates between 2012 and 2021 fluctuated between 9 percent and 14 percent, indicating a troubling upward trend in recent years.
The report underscores the growing economic challenges in Iraq, including limited job creation and a young, rapidly expanding workforce. Experts warn that unless targeted measures are implemented to stimulate employment opportunities, the issue could exacerbate social and economic instability.
Further details on the government’s strategy to address the unemployment crisis are yet to be announced.
