10 countries with highest unemployment

According to a UN Report, 205 million people were unemployed in 2010 and that number is not expected to improve this year, which leaves global economic growth on the back foot. Europe, Africa and South America's labour markets are struggling to recover from the 2008 financial crisis - as people under 25 face youth unemployment rates at a record level of 21 per cent.
Let us take a look at 10 most jobless countries.

1. South Africa

Unemployment: 25.3 per cent
The problem: Poor education leading to high youth unemployment. Though the government has tried to create more jobs, one in four people in South Africa is unemployed - and jobs created by government programmes only last 4-6 days.

2. Croatia

Unemployment: 18.8 per cent
The problem: The government's initiatives for job growth have failed - and 141,000 jobs lost in the last two years.
New infrastructure projects worth $13 billion announced by Croatia are expected to combat the problem.
 

3. Lithuania

Unemployment: 17.8 per cent
The problem: High corporate taxes and large deficit - in effort to control the credit crisis, Lithuania imposed higher corporate taxes, which only lead to more companies shutting down.


4. Latvia

Unemployment: 14.3 per cent
The problem: Even lower unemployment rates outside the capitol in the Riga region where unemployment can soar up to 22.3 per cent.
Their government job programmes have been troubled and education budgets cut.


 5. Ireland

Unemployment: 13.8 per cent
The problem: Known as the face of EU economic problems, Ireland's real estate bubble resulted in a banking sector collapse.
Unemployment went up by 10 per cent and is unlikely to pass due to an exodus of people leaving the country.

6. Slovakia

 

Unemployment: 12.5 per cent
The problem: Up and raising, the unemployment rate in Slovakia is expected to rise until March, when job market reforms are expected to have kicked in.

7. Greece

 

Unemployment: 12.4 per cent
The problem: 192,000 people have lost their jobs in October 2009 and the economy shrank in 2010 by 4.2 per cent with construction, retail and tourism taking the biggest hit.

8. Poland

Unemployment: 12.3 per cent
The problem: Youth, women and long-term unemployed struggle to find jobs. The country has not been able to control its unemployment rate since it moved on from communism 20 years ago.

9. Colombia

Unemployment: 11.3 per cent
The problem: 2.5 million out of work although financial and natural gas sectors are performing well.

10. Turkey
 

 


Unemployment: 11.2 per cent
The problem: Export drops in automotive, linens and textile sectors. Although women's employment prospects are improving by 0.9 per cent (to 28 per cent) the year before.


Courtesy:- Rediff

-Blog Admin