The reason for this is an unemployment rate that is higher than Americans had during the Great Depression.
South Africa’s unemployment rate for the last quarter of last year was sitting at 24.5%. That figure now stands at 26.7%.
“Unemployment in South Africa is worse now than it was when apartheid ended in 1994,” the study stated.
South Africa is not the only country on the index because of jobless woes.
Serbia, Palestine and Jamaica also have high unemployment rates.
Runaway inflation, high interest rates and drastic declines in GDP and employment are all factors used to calculate the misery index.
