Qatar Has World's Lowest Unemployment Rate: Spectator Index
- Publish date: Sunday، 30 April 2023
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According to the popular stats aggregator Spectator Index, it has reported that Qatar has one of the world's lowest unemployment rates.
On its Twitter account, Spectator Index ranked countries according to their unemployment rates, with Qatar at the very bottom of the list. The highest unemployment rates were recorded in Nigeria (33.3%), South Africa (32.7%), Iraq (14.2%), Spain (13.2%), and Morocco (11.8%), respectively. In contrast, Qatar had the world's lowest unemployment rate at only 0.1%.
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The World Bank, a global financial institution, also identifies Qatar as having the lowest percentage of unemployed workers in the world. The World Bank's data shows that Qatar's unemployment rate has been decreasing steadily over the past three decades.
According to the data, Qatar's total unemployment rate was 0.81% in 1991, and it has dropped to 0.17% in 2021.
The International Institute for Management Development (IMD) in Switzerland issued the Global Competitiveness Year Book for 2021, which provided Qatar's Competitiveness Index ranking.
Qatar ranked 17th out of 64 mostly developed countries in the 2021 Competitiveness Index by IMD. The country scored well in economic performance, government efficiency, and business sector efficiency. This was due to factors such as low unemployment rates, consumer price inflation, and a high percentage of government budget surplus.