Unemployment By Country 2020

Unemployment by Country The unemployment rate is defined as the percentage of unemployed workers in the total labor force. The unemployment rate includes workers who currently do not work, despite the fact that they are able and willing to do so.

The unemployment rate is a lagging indicator, meaning it responds (rises and falls) to changing economic conditions rather than predicts them. When the economy is growing at a healthy rate, the job market is plentiful and the unemployment rate will fall. When the economy is experiencing a recession or turbulent times, the unemployment rate tends to rise as a result of a lack of jobs.

There are three types of unemployment: frictional, structural, and seasonal. Frictional unemployment refers to temporary unemployment during the period when someone is searching for a job. Structural unemployment is the mismatch between workers’ skills or locations and job requirements. Seasonal unemployment is caused by seasonal changes in activity, such as in tourism or agriculture.

In the United States, the Bureau of Labor Statistics uses six different ways to calculate the unemployment rate. The most widely used and cited unemployment statistic is U-3, which defines unemployed people as those who are willing and able to work and who have actively searched for work in the past four weeks. Those who would like to work but are unable, such as those with disabilities, are not considered unemployed. The number of unemployed people, as defined by the U-3 statistic, is divided by the number of people in the labor force and then multiplied by 100.

Based on the latest information from the Bureau of Labor Statistics, the unemployment rate in the United States is 3.5%. After the 2008 recession, the unemployment rate reached almost 10% and has drastically decreased since then.

The International Labor Organization’s World Employment and Social Outlook: Trends 2019 reported that the world’s unemployment rate dropped below 5% in 2018, the lowest since the 2008 financial crisis.

The ten countries with the lowest unemployment rates are:

  1. Cambodia (0.30%)
  2. Qatar (0.60%)
  3. Thailand (0.70%)
  4. Belarus (1.0%)
  5. Benin (1.0%)
  6. Gibraltar (1.0%)
  7. Tonga (1.1%)
  8. Isle of Man (1.1%)
  9. Laos (1.5%)
  10. United Arab Emirates (1.60%)

The International Labor Organization’s report found, however, that many of the 3.3 billion people employed throughout the world are working under poor conditions that do no offer economic security, decent work opportunities, and lack material well-being. This being said, a low unemployment rate doesn’t necessarily mean more people are living in favorable, sustainable conditions.

The ten countries with the highest unemployment rates are:

  1. Burkina Faso (77%)
  2. Syria (50%)
  3. Senegal (48%)
  4. Haiti (40.60%)
  5. Kenya (40%)
  6. Djibouti (40%)
  7. Marshall Islands (36%)
  8. Namibia (34%)
  9. Kiribati (30.60%)
  10. Libya (30%)

Unemployment By Country 2020

Country Unemployment Rate Population 2020
Cambodia0.30%16,718,965
Qatar0.60%2,881,053
Thailand0.70%69,799,978
Belarus1.00%9,449,323
Benin1.00%12,123,200
Gibraltar1.00%33,691
Tonga1.10%105,695
Isle Of Man1.10%85,033
Laos1.50%7,275,560
United Arab Emirates1.60%9,890,402
Vanuatu1.70%307,145
Palau1.70%18,094
Macau2.00%649,335
Monaco2.00%39,242
Kuwait2.10%4,270,571
Madagascar2.10%27,691,018
Cuba2.20%11,326,616
Faroe Islands2.20%48,863
Singapore2.20%5,850,342
Vietnam2.20%97,338,579
Guatemala2.30%17,915,568
Liechtenstein2.40%38,128
Tajikistan2.40%9,537,645
Papua New Guinea2.50%8,947,024
Niger2.60%24,206,644
Rwanda2.70%12,952,218
Guinea2.80%13,132,795
Iceland2.80%341,243
Liberia2.80%5,057,681
Japan2.90%126,476,461
Maldives2.90%540,544
British Virgin Islands2.90%30,231
Nepal3.00%29,136,808
Switzerland3.00%8,654,622
Hong Kong3.10%7,496,981
Bhutan3.20%771,608
Malaysia3.40%32,365,999
Mexico3.60%128,932,753
Andorra3.70%77,265
Taiwan3.80%23,816,775
Germany3.80%83,783,942
Bahrain3.80%1,701,575
China3.90%1,439,323,776
Cayman Islands4.00%65,722
Bangladesh4.00%164,689,383
Norway4.00%5,421,241
Bolivia4.00%11,673,021
Moldova4.10%4,033,963
Seychelles4.10%98,347
Cameroon4.30%26,545,863
Israel4.30%8,655,535
Hungary4.40%9,660,351
Malta4.40%441,543
United Kingdom4.40%67,886,011
United States4.40%331,002,651
Sri Lanka4.50%21,413,249
Guam4.50%168,775
Saint Kitts And Nevis4.50%53,199
Trinidad And Tobago4.50%1,399,488
Ecuador4.60%17,643,054
Netherlands4.80%17,134,872
Poland4.80%37,846,611
New Zealand4.90%4,822,233
Uzbekistan4.90%33,469,203
Kazakhstan5.00%18,776,707
Romania5.30%19,237,691
Dominican Republic5.50%10,847,910
Fiji5.50%896,445
Austria5.50%9,006,398
Panama5.50%4,314,767
Russia5.50%145,934,462
Australia5.60%25,499,884
Indonesia5.60%273,523,615
Montserrat5.60%4,992
Philippines5.70%109,581,078
Denmark5.80%5,792,202
Saudi Arabia5.80%34,813,871
Estonia5.90%1,326,535
Honduras5.90%9,904,607
Azerbaijan6.00%10,139,177
Pakistan6.00%220,892,340
Luxembourg6.10%625,978
Bulgaria6.20%6,948,445
Ireland6.40%4,937,786
Canada6.50%37,742,154
Comoros6.50%869,601
Nicaragua6.50%6,624,554
Paraguay6.50%7,132,538
Angola6.60%32,866,272
Slovenia6.60%2,078,938
Sweden6.60%10,099,265
Peru6.70%32,971,854
Central African Republic6.90%4,829,767
Mauritius6.90%1,271,768
Aruba6.90%106,766
Togo6.90%8,278,724
Brunei6.90%437,479
Chile7.00%19,116,201
El Salvador7.00%6,486,205
Lithuania7.00%2,722,289
Bermuda7.00%62,278
Mongolia7.30%3,278,290
Belgium7.30%11,589,623
Uruguay7.30%3,473,730
Kyrgyzstan7.40%6,524,195
Anguilla8.00%15,003
San Marino8.00%33,931
Costa Rica8.10%5,094,118
Argentina8.10%45,195,774
Mali8.10%20,250,833
Slovakia8.10%5,459,642
Equatorial Guinea8.60%1,402,985
Eritrea8.60%3,546,421
Finland8.60%5,540,720
Saint Pierre And Miquelon8.70%5,794
India8.80%1,380,004,385
Wallis And Futuna8.80%11,239
Latvia9.00%1,886,198
Greenland9.10%56,770
Sierra Leone9.10%7,976,983
Suriname9.10%586,632
Uganda9.40%45,741,007
France9.50%65,273,511
Ukraine9.50%43,733,762
Portugal9.70%10,196,709
Morocco10.00%36,910,560
Turks And Caicos Islands10.00%38,717
Belize10.10%397,628
Tanzania10.30%59,734,218
Jamaica10.40%2,961,167
Colombia10.50%50,882,891
Barbados10.50%287,375
Antigua And Barbuda11.00%97,929
Turkmenistan11.00%6,031,200
Guyana11.10%786,552
Italy11.10%60,461,826
Northern Mariana Islands11.20%57,559
Turkey11.20%84,339,067
Zimbabwe11.30%14,862,924
Georgia11.50%3,989,167
Puerto Rico11.50%2,860,853
Algeria11.70%43,851,044
Mauritania11.70%4,649,658
Cyprus11.80%1,207,359
Brazil11.80%212,559,417
Ghana11.90%31,072,940
Egypt11.90%102,334,404
Sint Maarten12.00%42,876
Niue12.00%1,626
Sao Tome And Principe12.20%219,159
Croatia12.40%4,105,267
Iran12.40%83,992,949
Cook Islands13.10%17,564
Nigeria13.40%206,139,589
Albania14.00%2,877,797
New Caledonia14.70%285,498
Zambia15.00%18,383,955
Tunisia15.90%11,818,619
Iraq16.00%40,222,493
Serbia16.00%8,737,371
Montenegro16.10%628,066
Spain17.10%46,754,778
Ethiopia17.50%114,963,588
Jordan18.50%10,203,134
Saint Vincent And The Grenadines18.80%110,940
Armenia18.90%2,963,243
Sudan19.60%43,849,260
Saint Lucia20.00%183,627
Botswana20.00%2,351,627
Malawi20.40%19,129,952
Bosnia And Herzegovina20.50%3,280,819
French Polynesia21.80%280,908
Greece22.30%10,423,054
Dominica23.00%71,986
Nauru23.00%10,824
Afghanistan23.90%38,928,346
Grenada24.00%112,523
Mozambique24.50%31,255,435
Venezuela26.40%28,435,940
Yemen27.00%29,825,964
South Africa27.60%59,308,690
Gabon28.00%2,225,734
Swaziland28.00%1,160,164
Lesotho28.10%2,142,249
American Samoa29.80%55,191
Libya30.00%6,871,292
Kiribati30.60%119,449
Namibia34.00%2,540,905
Marshall Islands36.00%59,190
Djibouti40.00%988,000
Kenya40.00%53,771,296
Haiti40.60%11,402,528
Senegal48.00%16,743,927
Syria50.00%17,500,658
Burkina Faso77.00%20,903,273