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

Must Read

African Tribe: The Artistic Ndebeles of Southern Africa

The Ndebeles are an African ethnic group living in South Africa and Zimbabwe known for their artistic talent, especially with regard to their painted houses and colorful beadwork. Not much is known about these people except that they originated from the larger Nguni tribes who make up almost two thirds of the black population in South Africa.

Matriarchal Communities in Africa: African Communities Where Women Reign Supreme

From the Umoja community in Northern Kenya to the small rural community of Arnado Debbo in Niger state, Nigeria. These here are three African communities with long-standing traditions where to be a woman is superior.

African Tribe: The Dinka People Of South Sudan

The Dinka are a pastoral-agricultural people that make up the largest ethnic group in South Sudan. They vary their lifestyle by season – in the rainy season they live in permanent savannah settlements and raise grain crops like millet,



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

African Tribe: The Artistic Ndebeles of Southern Africa

The Ndebeles are an African ethnic group living in South Africa and Zimbabwe known for their artistic talent, especially with regard to their painted houses and colorful beadwork. Not much is known about these people except that they originated from the larger Nguni tribes who make up almost two thirds of the black population in South Africa.

Matriarchal Communities in Africa: African Communities Where Women Reign Supreme

From the Umoja community in Northern Kenya to the small rural community of Arnado Debbo in Niger state, Nigeria. These here are three African communities with long-standing traditions where to be a woman is superior.

African Tribe: The Dinka People Of South Sudan

The Dinka are a pastoral-agricultural people that make up the largest ethnic group in South Sudan. They vary their lifestyle by season – in the rainy season they live in permanent savannah settlements and raise grain crops like millet,

For The First Time, Married Women In Botswana Can Own Land Alongside Their Husbands

Married women in Botswana can for the first time be allocated state land even if their husbands already have an allocation of their own, President Mokgweetsi Masisi has said.

Slave Brokerage: How Early U.S. Newspapers Facilitated The Sales And Purchase Of Slaves

In the earliest history of US stock brokerage, one stock stood out both in nature and the revenue it generated – humans. The more preferred name for the merchandise was slave, and the stock market were the first US newspapers

More Articles Like This