The rates taken into account are not actual rates, but projected rates for the year based on Bloomberg survey data.<\/p>\n
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.<\/p>\n
South Africa’s position on the index hasn’t changed from 2015, with the country ranked as the third most miserable in the world.<\/p>\n
However, the index score has worsened from 2015, indicating that the situation has declined in terms of unemployment and inflation.<\/p>\n
In 2015, South Africa’s misery score was 30.2 – in 2016 it’s climbed to 32.0.<\/p>\n
![\"Most](\"http:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2016\/02\/Most-miserable.png\")
<\/p>\n
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.<\/p>\n
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.<\/p>\n
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.<\/p>\n
![\"Misery](\"http:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2016\/02\/Misery-Index.png\")
<\/p>\n
More on misery<\/h3>\n
This graphic shows the shocking state of employment in South Africa<\/a><\/strong><\/p>\n South Africa is the most miserable country in Africa<\/a><\/strong><\/p>\n