SHARE

Misery Index: South Africa Has The Third Most ‘Miserable Economy’ In The World

Must Read

Female Slave Traders: Meet Niara Bely, the African Queen Who Doubled as a Slave Trader in the 1800s

Niara Bely Also known as Elizabeth Bailey Gomez, was a African queen who also doubled as a slave trader in nineteenth-century Guinea.

Top 10 Youngest Presidents In Africa (Updated: 2021)

In recent years there has been a subtle surge of politicians in their 30s and 40s winning leadership roles...

African Culture: The Wodaabe Tribe Wife Stealing Festival

The Wodaabe tribe is a small subgroup of the Fulani ethnic group. They are traditionally nomadic cattle-herders and traders...
SHARE



South Africa has been ranked as the world’s most miserable economy after Venezuela and Argentina.

South Africa has the third-most miserable economy in the world, according to a new index

Bloomberg’s Misery Index, which ranks major economies by inflation and unemployment expectations, has ranked South Africa as the third most miserable economy in the world.

Venezuela, Argentina, South Africa, and Turkey held on to their unenviable rankings from 2019 as the world’s four most miserable economies, with Venezuela keeping status as the world’s worse for a sixth straight year.

While the local inflation rate of around 2.2% is the lowest in 15 years, the official unemployment rate of 30% is the highest in a decade. Government estimates that between 3 and 7 million people could lose their jobs this year.

Thailand, Singapore, and Japan registered as the least miserable nations, with Switzerland in fourth place.

The US jumped up sharply in the misery index – from number 50 to 25.

Israel, Iceland, and Panama were the only countries to suffer a drop close to that seen in the US, according to Bloomberg. Of the world’s largest economies, China and Japan declined the least, while the eurozone and the UK both experienced bigger jumps in joblessness and drops in inflation.

Luxembourg’s economy improved the most between 2019 and 2020, by leaping to rank 30 from 47.

Methodology

This year’s scores are based on Bloomberg surveys of economists’ estimates for 2020 price growth and joblessness in each economy and compares those values to last year’s actual data and includes only countries for which Bloomberg has sufficient economic forecasts.



Uzonna Anele
Anele is a web developer and a Pan-Africanist who believes bad leadership is the only thing keeping Africa from taking its rightful place in the modern world.

Leave a Reply

Subscribe to receive email updates

With a subscription profile, you automatically receive updates without having to return to the website and check for changes

Just In

Female Slave Traders: Meet Niara Bely, the African Queen Who Doubled as a Slave Trader in the 1800s

Niara Bely Also known as Elizabeth Bailey Gomez, was a African queen who also doubled as a slave trader in nineteenth-century Guinea.

More Articles Like This