Top 10 African Countries With Highest Unemployment Rates Revealed
- Interestingly, one common feature of unemployment in Africa is that it mainly affects the youths
- The unemployment rate is defined as the percentage of unemployed workers in the total labor force, which includes workers who currently do not work, although they can do so
- But there is a lagging indicator, meaning it responds (rises and falls) to changing economic conditions rather than influencing or predicting them
When the economy grows at a healthy rate, the job market is plentiful and the unemployment rate drops.
When the economy is experiencing a recession or other turbulence, the job market tends to retract and the unemployment rate rises in response.
According to a report from statista.com, South Africa registered the highest unemployment rate in Africa in 2021, with around 34 percent of the country's labor force being unemployed.
Djibouti and Eswatini followed, with unemployment reaching roughly 28 percent and 26 percent, respectively. On the other hand, Niger and Benin had the lowest unemployment rates in Africa.
Source: Facebook
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2022 report: Large shares of youth among the unemployed
Due to several educational, socio-demographic, and economic factors, the young population is more likely to face unemployment in most regions of the world.
In 2022, the youth unemployment rate in Africa averaged around 13 percent. The situation was particularly critical in certain countries.
The situation was particularly critical in certain countries. In 2021, Djibouti recorded a youth unemployment rate of almost 80 percent, the highest rate on the continent. South Africa followed, with around 64 percent of the young labor force being unemployed.
The challenge of comparing international unemployment rates
According to worldpopulationreview.com, when evaluating the unemployment rates of countries in comparison with one another, it is vital to keep in mind that it is not always an apples-to-apples comparison.
A report shared by African Facts Zone on its Facebook page highlights African countries with the highest unemployment rates.
African countries with the highest unemployment rate;
1. South Africa 33%
2. Djibouti 28%
3. Eswatini 25%
4. Botswana 24%
5. Lesotho 24%
6. Congo Rep 23%
7. Gabon 22%
8 Namibia 21%
9. Somalia 20%
10. Sudan 19%
Source: World Bank , June 2022
What unemployment numbers don't tell us
Interestingly, a low unemployment rate does not necessarily indicate that a country's people are living in favorable, sustainable conditions.
A report released by the International Labor Organization found that many of the 3.3 billion people throughout the world who are technically employed are working under substandard conditions that offer too little pay, poor economic security, and little to no opportunity for advancement.
Nigeria Named One of The Best Countries For Online Business in Africa
Nigeria has been named one of the best countries in Africa to start an online business.
The booming youth population in the country, the presence of smartphones and improved internet access have placed Nigeria as one of the leading countries in Africa where online businesses thrive.
Electronic commerce in Africa has witnessed great growth last year.
The list of African countries with highest debt to China, amount and what the debts are used for
Legit.ng reported that Macau is the only country in the world that is debt-free, according to the International Monetary Fund (IMF).
The world’s greatest economies rank among the 20 countries with the highest external debts.
They are the US, Russia, United Kingdom, France, Germany, Japan and China, according to a Daily Trust report.
Source: Legit.ng
