The 15 Most Miserable Countries In The World

greece

Photo: ap

The global economic picture is fairly grim. Debt ridden Eurozone countries have seen unemployment driven high by austerity measures and economic stagnation. The civil unrest in the Mideast and North Africa stemmed in part from joblessness in the region.Meanwhile, the price of food and energy soars everywhere.

The so-called “misery index” conceived by economist Arthur Okun is calculated by adding together unemployment and inflation.

Doing this simple calculation, we found the most miserable countries in the world.

Note: We calculated figures for 81 countries that consistently report unemployment and CPI figures

#15 Argentina

Misery index score: 17.1%

CPI inflation: 9.7%

Unemployment: 7.4%

Source: Bloomberg


#14 Ireland

Misery index score: 17.5%

CPI inflation: 2.7%

Unemployment: 14.8%

Source: Bloomberg


#13 Latvia

Misery index score: 18.2%

CPI inflation: 5%

Unemployment: 13.2%

Source: Bloomberg


#12 Jordan

Misery index score: 18.3%

CPI inflation: 5.2%

Unemployment: 13.1%

Source: Bloomberg, The Hashemite Kingdom of Jordan


#11 Turkey

Misery index score: 18.67%

CPI inflation: 7.17%

Unemployment: 11.5%

Source: Bloomberg


#10 Pakistan

Misery index score: 18.73%

CPI inflation: 13.23%

Unemployment: 5.5%

Source: Bloomberg


#9 Oman

Misery index score: 19.1%

CPI inflation: 4.1%

Unemployment: 15%

Source: Bloomberg, CBS


#8 Greece

Misery index score: 19.49%

CPI inflation: 3.29%

Unemployment: 16.2%

Source: Bloomberg


#7 India

Misery index score: 20.21%

CPI inflation: 9.41%

Unemployment: 10.8%

Source: Bloomberg


#6 Lithuania

Misery index score: 22.2%

CPI inflation: 5%

Unemployment: 17.2%

Source: Bloomberg


#5 Egypt

Misery index score: 23.8%

CPI inflation: 11.9%

Unemployment: 11.9%

Source: Bloomberg, Yahoo! News


#4 Spain

Misery index score: 24.2%

CPI inflation: 3.5%

Unemployment: 20.7%

Source: Bloomberg


#3 Vietnam

Misery index score: 24.38%

CPI inflation: 19.78%

Unemployment: 4.6%

Source: Bloomberg


#2 South Africa

Misery index score: 27.4%

CPI inflation: 4.2%

Unemployment: 23.2%

Source: Bloomberg


#1 Venezuela

Misery index score: 32.9%

CPI inflation: 24.8%

Unemployment: 8.1%

Source: Bloomberg

Now here are some countries that have it good...

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.