- A country's unemployment and inflation rates are strong indicators of how its economy is doing.
- Greece and Spain are among the most miserable countries in Europe by this economic measure, the "Misery Index."
- These are the 27 most "miserable" countries — places where the unemployment rate combined with the inflation rate is above 15%.
The 27 most 'miserable' countries in the world
Countries with extremely high unemployment and inflation rates are considered miserable because of desperate economic conditions.
It's hard to get by when you don't have a job and the cost of living keeps rising.
This is the maxim behind economist Arthur Okun's "Misery Index," which adds together a country's unemployment and inflation rates. The higher the number, the more "miserable" your country.
There has been criticism of the index. Extensive studies have shown that unemployment influences happiness (or, rather, unhappiness) significantly more than inflation.
Still, few would argue that both unemployment and inflation are bad when they are very high.
In light of that, Business Insider compiled a list of the 27 most miserable countries based on 2017 data available at the CIA World Factbook. Some countries struggle with both high unemployment and inflation, while others have one rate asymmetrically higher than the other.
Some countries are absent from the list because data was either unavailable or outdated. Venezuela and South Sudan — for instance — are both going through periods of massive inflation but the CIA World Factbook does not provide a rate for either country.
Elena Holodny contributed to a previous version of this story.
27. Jamaica
Misery-index score: 15.6
CPI inflation: 3.4%
Unemployment: 12.2%
26. Tunisia
Misery-index score: 17.5
CPI inflation: 4.5%
Unemployment: 13.0%
25. Eritrea
Misery-index score: 17.6
CPI inflation: 9.0%
Unemployment: 8.6%
24. Uzbekistan
Misery-index score: 17.9
CPI inflation: 13.0%
Unemployment: 4.9%
23. Azerbaijan
Misery-index score: 18.0
CPI inflation: 12.0%
Unemployment: 6.0%
22. Serbia
Misery-index score: 19.4
CPI inflation: 3.4%
Unemployment: 16.0%
21. Jordan
Misery-index score: 19.8
CPI inflation: 3.3%
Unemployment: 16.5%
20. Armenia
Misery-index score: 20.8
CPI inflation: 1.9%
Unemployment: 18.9%
19. Turkey
Misery-index score: 22.1
CPI inflation: 10.9%
Unemployment: 11.2%
18. Bosnia and Herzegovina
Misery-index score: 22.3
CPI inflation: 1.8%
Unemployment: 20.5%
17. Ukraine
Misery-index score: 22.6
CPI inflation: 12.8%
Unemployment: 9.5%
16. Iran
Misery-index score: 22.9
CPI inflation: 10.5%
Unemployment: 12.4%
15. Greece
Misery-index score: 23.5
CPI inflation: 1.2%
Unemployment: 22.3%
14. Ghana
Misery-index score: 23.7
CPI inflation: 11.8%
Unemployment: 11.9%
13. Macedonia
Misery-index score: 23.7
CPI inflation: 0.3%
Unemployment: 23.4%
12. Spain
Misery-index score: 29.1
CPI inflation: 2.0%
Unemployment: 27.1%
11. Nigeria
Misery-index score: 29.7
CPI inflation: 16.3%
Unemployment: 13.4%
10. Suriname
Misery-index score: 31.4
CPI inflation: 22.3%
Unemployment: 9.1%
9. Lesotho
Misery-index score: 32.0
CPI inflation: 3.9%
Unemployment: 28.1%
8. South Africa
Misery-index score: 33.0
CPI inflation: 5.4%
Unemployment: 27.6%
7. Argentina
Misery-index score: 35.0
CPI inflation: 26.9%
Unemployment: 8.1%
6. Egypt
Misery-index score: 35.7
CPI inflation: 23.5%
Unemployment: 12.2%
5. Mozambique
Misery-index score: 39.9
CPI inflation: 17.5%
Unemployment: 22.4%
4. Sudan
Misery-index score: 46.5
CPI inflation: 26.9%
Unemployment: 19.6%
3. Yemen
Misery-index score: 47.0
CPI inflation: 20.0%
Unemployment: 27%
2. Djibouti
Misery-index score: 63.0
CPI inflation: 3.0%
Unemployment: 60%
1. Syria
Misery-index score: 75.5
CPI inflation: 25.5%
Unemployment: 50.0%
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