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South Africa in top 3 most miserable economies

South Africa in top 3 most miserable economies

Bloomberg has released its 2016 misery index, showing that South Africa has one of the most miserable economies in the world.

The Bloomberg misery index is based on two metrics – unemployment and consumer inflation – which are combined to produce an overall “misery score”.

The rates taken into account are not actual rates, but projected rates for the year based on Bloomberg survey data.

Other, similar indices also take into account factors such as interest rates and economic growth, however Bloomberg’s index focuses purely on these “down” indicators.

South Africa’s position on the index hasn’t changed from 2015, with the country ranked as the third most miserable in the world.

However, the index score has worsened from 2015, indicating that the situation has declined in terms of unemployment and inflation.

In 2015, South Africa’s misery score was 30.2 – in 2016 it’s climbed to 32.0.

Most miserable

Venezuela remains the world’s most miserable economy – far ahead of anyone else with a misery score of 159.7. Argentina is ranked second (down from being fifth in 2015) with a score of 39.9.

According to Bloomberg, there is no end in sight for Venezuela’s economic woes, with consumer price growth expected to balloon by 152%, while unemployment hits 7.7%. Argentina, too, is battling with high inflation.

In the mix of the index’s points of measurements, South Africa and Greece have the highest unemployment rates in the top 5 countries – while Ukraine is struggling with a balance of unemployment and high inflation.

Misery Index

More on misery

This graphic shows the shocking state of employment in South Africa

South Africa is the most miserable country in Africa

The most miserable countries in the world


BusinessTech's Staff Writer is directly plugged into the South African Internet backbone, and spits out press releases and other news as they receive it. They are believed to be cl...
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  • NosySnoopy

    That hurts. The two things to take from this is 1) Unemployment is a big problem and is more difficult to address than inflation. 2) We don’t have a reason to go though this like Greece. We are here because of the cANCer and ZuZu.

    • Fanandala

      Corruption seems to be the root of misery, it was (is) pretty bad in Greece as well.

      • Demisemi

        Our corruption makes Greece look like a church choir in comparison.

        Approx R700 BILLION and still counting !!!!!!

  • Hammersteyn

    THANKS ZUMA!!!

  • Cheeseburger

    … and who do we have to thank? Zupta – crash the economy so that the Guptas can buy up everything cheap cheap.

    • Joe Soap

      Over a plate of curry apparently.

      • Frank Payne

        That’s the plan!

  • Charl van der Merwe

    Keep up the good work ANC voters! *thumbs up*

  • Konstabel Koekemoer

    Not good when even Greece and Ukraine fare better

  • We are working hard to get to the number 1 position!

  • Steady_b2k

    Proudly brought to you by African National Corruption

    • Joe Soap

      With help from: spews24, Idiots On Line and Equally Worthless News.

  • Anthony Bingham

    Proudly brought to you by the vile and loathsome ANC government.

  • bengine

    I know – let’s hike the repo rate again and give more air time to Zuma – that should fix everything.
    The problem we have is that we don’t have a single person in this country in a management position (minister, governer, director) that has any balls. Conservative bunch the lot of them only interested in their over inflated pay packets.

    I say time to start thinking out of the box – time for some radical economics – let’s focus on improving the lot for the people in this country who actually work – create – produce. Stop focusing on the finance industry and the minuscule few who run and benefit from it.
    Drop tax, interest rates. Cut spending on everything except education and skills development, innovation and incubation – boost spending on those. Cancel the nuclear deal and find something that is not going to suck us dry. Cut back on Govt spending – we want more output for less spend – put people in positions who can do the job – and above all get rid of the flinking corruption.

    We shall now sing hymn 169

    • Demisemi

      Amen.

  • Jacobus Pienaars

    On being told this, the president started dancing clumsily and singing struggle songs. After two songs he declared the problem having been attended to.

    • Henry Butler-Sloshed

      Then he established a committee to travel to South America (first class) and to Europe to study this “misery index” and come up with recommendations.

      Of course these recommendations will not be binding, it would depend what Prez Zuma will decide to do about them (what side of the bed he will get up in the morning).

  • Peter the Observer

    Proudly brought to you by the ANC …… !!!! Whooppeee them and their policies !!!
    What a legacy !!

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