The 10 Most Unemployed Countries In The World


This morning’s U.S. unemployment data disappointed, with weak job growth, though there was a drop in the headline unemployment rate.

But this isn’t just an American problem.

Global economic growth is on the rebound but the labour market continues to disappoint with 205 million people unemployed in 2010, according to a UN report. The number is not expected to improve much this year.

labour markets in Europe, Africa and South America are struggling to recover from the crisis that hit them in 2008. Europe’s young people under 25 are facing an especially difficult situation. The youth unemployment rate is now at a record level of 21%.

#1 South Africa: Poor education has contributed to high youth unemployment

Unemployment rate: 25.3%

Unemployment among all 15 to 24-year-olds is 51%.

The government's efforts to create more jobs have not worked as one out of every four people in South Africa is still unemployed. Jobs created by government programs usually only last 46 days.

#2 Croatia: Failed government job programs

Unemployment rate: 18.8%

Croatia has lost 141,000 jobs in the last two years.

Government initiatives for job growth have not worked thus far. Croatia announced new infrastructure projects worth more than $13 billion that are expected to help combat unemployment.

#3 Lithuania: High corporate taxes, large deficit

Unemployment rate: 17.8%

Lithuania has been behind Estonia and Latvia in terms of economic growth since 2008.

To combat the credit crisis it imposed higher corporate taxes which led to more companies shutting down.

#4 Latvia: Troubled government job programs, education cuts

Unemployment rate: 14.3%

The lowest unemployment rate is in Riga region around the capital, but get away from their and the unemployment rate can soar as high as 22.3%.

#5 Ireland: Face of EU economic problems

Unemployment rate: 13.8%

Though it was once the darling of the EU, Ireland is now one of its biggest problems due to its real estate bubble the resulted in a banking sector collapse.

Prior to the financial crisis, Ireland's unemployment rate was around 4.4% and while it is now close to 14%, it is unlikely to pass that height because of an increase in people leaving the country.

#6 Slovakia: Job market reforms coming soon

Unemployment rate: 12.5%

The unemployment rate in Slovakia is expected to rise until March. At that point, job market reforms are expected to have a positive effect on the unemployment rate.

#7 Greece: Construction, retail, and tourism take a hit

Unemployment rate: 12.4%

Its been a rough year for Greece. The country has officially become the poster child for financial collapse.

About 192,000 people have lost their jobs since October 2009.

The economy shrank by 4.2% in 2010 with construction, retail and tourism sectors taking the biggest hits.

Unemployment is expected to increase into 2012 and then finally decrease by 2013.

#8 Poland: Long-term unemployment problems still exist

Unemployment rate: 12.3%

The country has basically had problems getting the jobless rate in control since it moved on from communism 20 years ago.

Youth, women and the long-term unemployed have struggled to find jobs.

However, retail sales are on the rise with September 2010 sales up by 8.6% year-over-year.

#9 Colombia: Weak agriculture, industrial sectors

Unemployment rate: 11.3%

About 2.5 million Colombians are currently out of work.

The city Quibdo has the most citizens out of work followed by Pereira and Armenia.

The Colombia economy does have some bright spots, with the financial industry and natural gas sectors performing well.

#10 Turkey: Automotive, linens and textile sector slammed

Unemployment rate: 11.2%

Turkey has had bad hits to its automotive, linens and textile sectors due to export drops.

Women's employment prospects are improving however, with their participation rate up to 28%, a 0.9% rise from the year before according to a Turkish Statistics Institute survey.

Here's where unemployment and inflation could combine to create another Egypt.

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