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Friday
Jan142011

Global Unemployment Rates

Below is a chart showing the current unemployment rates for 36 countries.  You might think that most countries around the world have unemployment rates as high as ours here in the US at 9.4%.  But the reality is that the US ranks pretty poorly compared to the rest of the world.  The Eurozone is at similar levels to the US, but when most of the countries that have a higher unemployment rate than the US are collectively referred to as PIGS, it's not very encouraging.

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Reader Comments (12)

Don't you have to make sure the methodology of calculation is the same to compare this statistic across national boundaries? For example, the 9.4% is not the U6. The real unemployment is more like 17%, c'est ne pas?

January 14, 2011 | Unregistered CommenterIvan

The big question is "How do other countries calculate unemployment?" Do they all follow the patheetic US model?

January 14, 2011 | Unregistered Commentersnoopy

Keeping score on unemployment is fine, if only the real #'s were published. Birth/death, seasonal adjustments, and of course all those who fell off the back end (not counted now) create a perception that is anything but truthful. But then every gov report is massaged to deceive the sheeple. Isn't that the american way ?

January 14, 2011 | Unregistered CommenterJeff

This is an apples and oranges comparison.
Europe counts several groups of workers as unemployed that the US does not include in U3, the 'headline' number (9.4%)
Europe's measures are much closer to the U6 measure in the US. That puts the US #3 on the list, below Latvia.

January 14, 2011 | Unregistered CommenterGregP

Whoever wrote this article is a bit of a whimsical human. Thai has 0.9% unemployment-lol- just exactly what are some of these Thai jobs? They don't pay much but ensure a happy ending for all, and training does not require a degree, just good street sense. Now thats a plan to save America!

January 14, 2011 | Unregistered CommenterParth V

That is a very nice graph. Now, try it again with real numbers. Start with US unemployment of 22% - http://www.shadowstats.com

January 15, 2011 | Unregistered CommenterRalph Nadeer

Thanks for this overview.

I find it hard to draw any conclusions without a better idea of source, dates, data and parameters used for this overview.

E.g. the Economist notes that in its Economic and financial indicators, the definition of unemployment is based on national definitions. Without knowing these definitions (let alone other variables), these numbers are in my view difficult to compare. I understand e.g. that if you give up looking in the US, you are no longer registered as unemployed.

Keep up the good work!!

Greetings from the Netherlands.

January 15, 2011 | Unregistered CommenterHarm van Berkum

I can't see how isreal is at 6 % when we all know Arab isreali unemployment probably stands at 80% and orthodox Jewish unemployment hovers around the same and since these two groups make up about one third of the isreali population the real number must be close to 25-32% unemployment

January 16, 2011 | Unregistered CommenterKerryman

Hello. I am from Spain and that data is not real. At a rate of 20% unemployment, Spain would have collapsed years ago.
There are many people who are in the unemployment official lists (and therefore there are entitled to 1000 USD per month from the Social Security) and are working at the same time illegally. Therefore they receive two salaries (one from the government and other from the private sector illegally from which they do not pay taxes). Do not trust the government data because it is not real. Half of the unemployed people are working and not paying taxes. The real problem of Spain is the innefficiency of the government structures and control of the illegal jobs.

January 16, 2011 | Unregistered CommenterGonzalo

uuuhhhh.....the overall consensus here is that this graph is completely useless....and I agree. I'd be ashamed to post this sort of uncredible dribble. This is on an investment page????? Oh yeah bb....I really look forward to the day when you advise me how to invest my money. Do everyone a favor and go away.............................................

January 16, 2011 | Unregistered CommenterDave

I followed the link from FSN. As Ralph Nadeer said above - shadowstats.com tracks the real statistics and rates US unemployment at around 22% when one takes into account those who have fallen off the official numbering (long term unemployed, discouraged workers etc etc etc). You really need to compare like with like otherwise you wind up with a comparison that's as valid as comparing the colors on the chart but not much more.

January 16, 2011 | Unregistered Commenterbob

Scan down to Mexico at 5.6%.

Think about that for a minute?

If unemployment is so low, half of U.S. Unemployment number, then why aren't American unemployed here along the Texas border in Houston and Dallas swimming the Rio Grande to get South to a job in Mexico?

Why aren't American unemployeds paying thousands of Dollars to Mexican "coyotes" to get them across the border to get to all these Mexican jobs? Many of the unemployed in Texas speak fluent Spanish, so " no hay problem con el idioma"? I don't hear of any Americans risking their lives crossing the desert Southwest to get one of these abundant Mexivan jobs? 5% unemployment is considered "full employment" here in the U.S.?

Heck, then if there is only 5.6 % unemployment in my Southern neighbor, why aren't the illegals among the Mexican population here in Texas heading back to where there is less unemployment in ole Mexico? If these stats are anywhere near accurate?

If I were to purchase a subscription to this blog would I get the privilege of getting more these charts; that are fictions?

January 17, 2011 | Unregistered CommenterRonJ

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