As of March 2025, South Africa had the highest unemployment rate among the 19* countries that are members of the G20. The unemployment rate in South Africa stood at **** percent that year. The country has recently been plagued by an economic downturn, including energy shortages and high unemployment levels. On the other hand, Japan had the lowest unemployment rate at just *** percent. Economic inequality in South Africa Not only does South Africa top the G20 in overall unemployment, but it also has a significant level of youth unemployment, as nearly half of the young population is unemployed. Thirty years after the end of Apartheid, South Africa is also still one of the most unequal countries in the world, with a Gini score of ****. The prominence of inequality in the country makes escaping unemployment and underemployment difficult. Japanese economic slowdown While Japan had the lowest unemployment rate out of all G20 nations, as well as the lowest youth unemployment rate out of the G20 nations, Japan’s economy is still facing many challenges. With an aging population, the total Japanese population is facing a rapid decline, meaning that it will struggle to have enough workers participating in the labor market. Despite this, Japan maintains strict immigration policies, limiting the chances for foreign workers to move to Japan. Moreover, Japan has the second lowest fertility rate out of the G7 nations and one of the lowest fertility rates globally, adding another challenge in addressing population shrinkage.

The average for 2024 based on 19 countries was 6.31 percent. The highest value was in South Africa: 33.17 percent and the lowest value was in Russia: 2.53 percent. The indicator is available from 1991 to 2024. Below is a chart for all countries where data are available.

The youth unemployment rate of South Africa was over ** percent in 2024, the highest of any G20 country. Italy followed with a youth unemployment rate of **** percent. In contrast, Japan's youth unemployment rate was the lowest at only 3*** percent. Economic crisis in Argentina At ***** percent, youth unemployment in Argentina falls third out of the G20 nations. The Argentinian economy was hit by a recession beginning in 2022, with an average inflation rate of nearly ** percent that year, jumping to over *** percent in 2023. Such staggering inflation has hit Argentinian consumers hard, with the average consumer price index going from nearly *** in 2021 to ***** in 2022, before increasing to nearly ***** in 2023. While youth unemployment has fallen in Argentina since the beginning of the COVID-19 pandemic, factors such as skyrocketing inflation make getting by difficult for many. Inequality in South Africa With a youth unemployment rate of just over 6* percent, South Africa stands out from the rest of the G20 nations. Thirty years after the end of Apartheid, South Africa is considered one the most unequal country in the world. Using the Gini Index, which measures income inequality with zero representing totally equal distribution and one representing unequal distribution, South Africa has a score of ****, higher than any other nation. Poverty and inequality are a major concern for South Africans, with over ** percent of survey respondents expressing worry over the issue in January 2024, a slight decrease from a recent peak of ** percent in August 2023.

Youth unemployment rates in the G20 were generally highest among people with a basic education. In India, however, youth unemployment was highest among *********************************, which may be down to a lack of positions for people with an advanced education. In South Africa, youth unemployment was highest among people with an **********************, with almost **** of the youth being unemployed.

The youth unemployment rate of South Africa was over 50 percent in 2023, the highest of any G20 country. Italy followed with a youth unemployment rate of 23 percent. In contrast, Japan's youth unemployment rate was the lowest at only 4.2 percent. Economic crisis in Argentina At 18 percent, youth unemployment in Argentina falls third out of the G20 nations. The Argentinian economy was hit by a recession beginning in 2022, with an average inflation rate of nearly 72 percent that year, jumping to over 130 percent in 2023. Such staggering inflation has hit Argentinian consumers hard, with the average consumer price index going from nearly 918 in 2021 to 1,584 in 2022, before increasing to nearly 3,700 in 2023. While youth unemployment has fallen in Argentina since the beginning of the COVID-19 pandemic, factors such as skyrocketing inflation make getting by difficult for many. Inequality in South Africa With a youth unemployment rate of just over 50 percent, South Africa stands out from the rest of the G20 nations. Thirty years after the end of Apartheid, South Africa is considered the most unequal country in the world. Using the Gini Index, which measures income inequality with zero representing totally equal distribution and one representing unequal distribution, South Africa has a score of 0.63, higher than any other nation. Poverty and inequality are a major concern for South Africans, with over 30 percent of survey respondents expressing worry over the issue in January 2024, a slight decrease from a recent peak of 38 percent in August 2023.

Labor force participation among youth in the G20 vary from three fourths in Australia to less than ** percent in Italy. Meanwhile, South Africa was the G20 member with the highest youth unemployment rate.

In most G20 countries, labor force participation was higher among young men than among young women. The only exception was South Korea. On the other hand, the gap was highest in India, with a difference of around ** percentage points, underlining the more traditional role of women in the South Asian country. Meanwhile, South Africa was the G20 member with the highest youth unemployment rate.

Generally, labor force participation in the G20 was highest among youth with an advanced education. Interestingly, all youth with less than a basic education in South Korea were participating in the labor force, which is down to the high education levels of the Korean population. Meanwhile, South Africa was the G20 member with the highest youth unemployment rate.

As of 2023, ***** had the highest NEET rate (people not in education, employment, or training) among young women, reaching over ** percent. On the other hand, ***** had the lowest female youth NEET rate of the G20 members. It also had the lowest male youth NEET rate, whereas ************ had the highest among men.

As of 2019, the unemployed youth as a share of the total labor force for those aged 15 to 24 years in Saudi Arabia was **** percent. In contrast, the share of unemployed you as share of the total labor force in Qatar was only **** percent. In comparison, the average youth unemployment rate in G20 countries is around **** percent. Median ageThe median age of the population in the Gulf Cooperation Council countries ranges from **** years in the United Arab Emirates to **** years in Saudi Arabia. Which is in coherence with the global median age at around ** years. Female workforce participationThe labor force participation gender gap in the Middle East and North African countries increases the issue of the high youth unemployment in the region. The female labor force participation in the Gulf Cooperation Council countries is the lowest amongst all Middle East and North African Countries. Which means that only ** percent of working age women are in employment. In contrast, almost ** percent of working age women in Jordan are in employment.

In November 2024, the unemployment rate in Russia exceeded two percent, having stayed on the same level as in the previous month. By comparison, 3.7 percent of the workforce aged 15 years and older nationwide were unemployed in the corresponding period two years prior. In 2022, the annual unemployment rate in Russia was measured at approximately 3.2 percent. Causes of unemployment in Russia The country’s labor market situation deteriorated in the summer of 2020 due to the coronavirus (COVID-19) pandemic. The number of jobs contributed by the travel and tourism industry decreased from 3.3 million to 3 million between 2019 and 2022, though the figures started to recuperate again in 2023. Furthermore, Russia has witnessed an exodus of companies due to the invasion of Ukraine in 2022. Leading international companies like McDonald’s, Renault Group, and PepsiCo suspended their operations in the country, thus putting thousands of employees in Russia at risk of unemployment. Russia’s unemployment in global perspective Russia’s unemployment rate is lower than in most other G20 countries. This is largely due to a low fertility rate in the 1990s which has resulted in a demographic dip and left the country with fewer young workers actively seeking employment. Moreover, Russia’s weak social protection, as expressed by unemployment benefits lower than in most European countries, encourages people to find a new job rapidly. An estimated 30 million Russians were not officially registered as unemployed by working in the shadow economy as of 2021.

As of November 2021, the U.S. goverment dedicated ***** percent of the GDP to soften the effects of the coronavirus pandemic. This translates to stimulus packages worth **** trillion U.S. dollars Economic impact of the Coronavirus pandemic The impact of the COVID-19 pandemic was felt throughout the whole world. Lockdowns forced many industries to close completely for many months and restrictions were put on almost all economic activity. In 2020, the worldwide GDP loss due to Covid was *** percent. The global unemployment rate rocketed to **** percent in 2020 and confidence in governments’ ability to deal with the crisis diminished significantly. Governmental response In order to stimulate the economies and bring them out of recession, many countries have decided to release so called stimulus packages. These are fiscal and monetary policies used to support the recovery process. Through application of lower taxes and interest rates, direct financial aid, or facilitated access to funding, the governments aim to boost the employment, investment, and demand. Stimulus packages Until November 2021, Japan has dedicated the largest share of the GDP to stimulus packages among the G20 countries, with ***** percent (*** trillion Yen or **** trillion U.S. dollars). While the first help package aimed at maintaining employment and securing businesses, the second and third ones focused more on structural changes and positive developments in the country in the post-pandemic future.

This statistic shows the unemployment rate in France from 1991 to 2024. In 2024, the unemployment rate in France was around 7.37 percent. Population of France A member of the G7 and G20, France is one of the world's most powerful, advanced and emerging economies. With a total population of around 65 million people, France’s economy must adapt itself to employ the growing population. Although the rates of population growth in the past five years have declined in comparison to the population growth rates between 2003 and 2007, there is still an overall growth in the total population. An important factor that directly affects the French economy is the percentage increase in people who are 65 years of age or older and the percentage decline of people between the ages of 15 and 64 years. Because the percentage of the working population is decreasing, mainly people between the ages of 15 and 64 years, and the median age of the population in France is increasing, the economy must adapt to the growing competition by providing more employment opportunities. With the Eurozone crisis and global financial crisis of 2008, the real gross domestic product (GDP) growth rate in France suffered dramatic drops between 2008 and 2009 in comparison to the previous year. Despite having increased between 2009 and 2013, employment in France has not reached the record high of 2008 again yet. In addition, the unemployment rates in the last decade have increased by almost two percent.

The statistic shows the unemployment rate in the United Kingdom from 1999 to 2024. The UK's unemployment rate decreased to 4.11 percent in 2024. Unemployment and the economy of the United Kingdom The global financial crisis of 2008 left many nations with high inflation and increasing unemployment rates. The United Kingdom, however, has attempted and successfully lowered the unemployment rate since 2009. The UK is a member of the Commonwealth of Nations, the Council of Europe, the G7, the G8, the G20, NATO, and World Trade Organization. It is therefore one of the biggest and most important economic powers in the world. It consists of England, Scotland, Wales and Northern Ireland, and in 2014, the UK population amounted to over 64 million people. The same year, it reported the sixth largest gross domestic product in the world, reaching more than 2.8 billion U.S. dollars - and with a prospering economy, its GDP is on the upswing: It is estimated that the GDP in the United Kingdom will grow by approximately 3 percent in 2015 in comparison to the previous year. Regarding unemployment, the UK has never been "typically European". Europe's unemployment rate has been relatively high in comparison to other world regions; the unemployment rate in developed countries and the European Union in 2014 was around 7.8 percent. Meanwhile, the global unemployment rate in 2014 was an estimated 5.9 percent. Despite reporting the third highest unemployment rate in major industrial and emerging countries, behind France and India, the unemployment rate in the United Kingdom is much lower than the European Union rate.

The statistic shows the unemployment rate in South Korea from 2020 to 2023, with projections up until 2030. In 2023, the unemployment rate in South Korea was at around 2.71 percent. See the figures for the population of South Korea for comparison. Economy of South Korea South Korea is one of the world’s richest countries as well as a member of the G20, an organization made up of the 20 strongest economies in the world. Due to excessive growth from the 1960s to the 1990s, South Korea established itself as a developed country in the world with a strong economy and high wages. Continued economic growth is attributed to a robust export-oriented economy, which was deemed necessary for the country particularly due to a scarcity in natural resources as well as overpopulation in comparison to available living space. During the global financial crisis, South Korea surprised many economists by maintaining a stable economy and even experiencing economic growth, most notably during the peak of the crisis. Through stimulus packages as well as a high level of consumption, South Korea’s strong export-oriented economy was not affected as negatively as many other developed countries. South Korea’s economy primarily revolves around the production and export of technological goods. Some primary exports of the country include electronics, ships and automobiles. South Korea also has some of the largest shipbuilding companies worldwide, which are highly profitable but also have accumulated a rather large sum of debt over the course of several years.

In December 2020, the United States Congress signed into effect the COVID-Related Tax Relief Act which would give *** U.S. dollars of aid to almost every American in response to the COVID-19 pandemic. By the end of January 2021, Americans living in households with an income of less than ****** U.S. dollars a year had spent an average of *** U.S. dollars from their stimulus checks. In comparison, those living in households with an income of more than ****** U.S. dollars a year spent ** U.S dollars of the same check.

Comparing the stimulus packages

The COVID-Related Tax Relief Act was the second stimulus package that was passed in response to the pandemic in the United States. In April 2020, congress passed a two trillion U.S. dollar economic relief package called the Coronavirus Aid, Relief, and Economic Security (or CARES) Act. This package provided every American in need with ***** U.S. dollars. Around ** percent of Americans approved of this relief package and supported its passing. However, after the first CARES Act check of ***** U.S. dollars, many Americans felt that the second stimulus check of *** U.S. dollars was too little to help, especially when compared to the stimulus paid out by other nations. Among G20 member countries, the United States came in fourth in size of COVID-19 fiscal stimulus packages as a share of the nation's gross domestic product (GDP), at **** percent. In comparison, Japan passed the largest fiscal stimulus package, which amounted to about **** percent of its GDP.

COVID-19: impact on employment in the United States

Many Americans depended greatly on the economic relief provided by the stimulus package, as many businesses were forced to let their employees go due to economic strain, as can be seen in the unemployment rate in the United States. Some industries suffered more than others, such as the leisure and hospitality industry, which suffered the highest unemployment rate of any industry at **** percent as of January 2021 (not seasonally adjusted), largely due to its dependence on tourism and travel, which were greatly restricted under coronavirus-related restrictions. As of February 2021, approximately ** percent of Americans with an income of less than ****** U.S. dollars reported that they had personally lost a job due to the pandemic.

The statistic shows gross domestic product (GDP) of South Korea from 1987 to 2024, with projections up until 2029. GDP or gross domestic product is the sum of all goods and services produced in a country in a year; it is a strong indicator of economic strength. In 2024, South Korea's GDP was around 1.87 trillion U.S. dollars. See global GDP for a global comparison. South Korea’s economy South Korea is doing quite well economically. It is among the leading export countries worldwide, it mainly exports electronics, automobiles and machinery. South Korea is also one of the leading import countries worldwide. Additionally, it is one of the leading countries with the largest proportion of global domestic product / GDP based on Purchasing Power Parity (PPP). Its GDP has been increasing for the last few years, while the gross domestic product / GDP growth in South Korea has not been steady but increasing since 2009. South Korea is an OECD member and a member of the G20 states. Among the latter, its GDP growth was higher than that of the United States or the European Union in 2013. South Korea is one of the fastest-growing economies worldwide. Its standard of living is also considered to be quite high, the unemployment rate, which is one key factor, has been at around 3 percent, give or take a few percentage points, for the past decade. As a comparison, the United States’ unemployment rate was almost twice, sometimes three times as high as in South Korea during the same period. As for employment, South Korea’s rate is almost the same as that of the United States or France, with more than 60 percent of employed persons in the population.

In 2024, approximately *** thousand passenger cars and commercial vehicles were sold to customers in Saudi Arabia. That marked an increase compared to the previous year, in which ***** thousand passenger cars and commercial vehicles were sold in the kingdom. Saudi Arabia, a key player in the regional automobile sector As of 2022, Saudi Arabia has joined the trillion-dollar club, a term used to describe economies with a gross domestic product exceeding one trillion U.S. dollars. Unsurprisingly, the Kingdom is the biggest vehicle market among the Gulf Cooperation Council (GCC) countries. Moreover, Saudi Arabia dominated both passenger and commercial car sales in the Middle East and North African region in 2021. Followed by Hyundai, Toyota held the largest market share of new car sales in the Kingdom in 2021. Meanwhile, the year-on-year change of commercial vehicle sales in Saudi Arabia was forecast to grow by *** and *** percent in 2022 and 2023 respectively. A large economy with big challenges Saudi Arabia is home to one of the world’s youngest populations, with inhabitants aged between 15 and 24 years old exceeding ** percent of the total population in 2020. While the young population drives the economy forward as it enters the working age, at the current stage, the Kingdom is more concerned with providing enough employment than with the issue of not having enough labor force. To illustrate, Saudi Arabia has the highest youth unemployment rate in the G20, which translates as the highest youth unemployment rate among the GCC countries. Another feature of the Kingdom’s economy is the gender disparity in labor force participation, with a ** percent gap in women's labor force participation in 2016.

The statistic shows gross domestic product (GDP) in Brazil from 1987 to 2024, with projections up until 2030. Gross domestic product denotes the aggregate value of all services and goods produced within a country in any given year. GDP is an important indicator of a country's economic power. In 2024, Brazil's gross domestic product amounted to around 2.17 trillion U.S. dollars. In comparison to the GDP of the other BRIC countries India, Russia and China, Brazil was ranked third that year. Brazil's national finances Brazil is one of the fastest growing economies in the world and the largest amongst all Latin American countries. Brazil is also a member of multiple economic organizations such as the G20 as well as one of the four countries in the BRIC economies, which consist of Brazil, Russia, India and China. Despite having one of the lower populations out of the four countries, Brazil maintained a relatively stable dollar value of all goods and services produced within the country in comparison to India, for example. This indicates that unemployment is low and in general business demand within the country has become relatively high. Spending within the country has been relatively high, however is considered to be normal, especially for developing countries. It is expected that developing economies have a budget deficit of roughly 3 percent, primarily because spending is needed in order to fuel an economy at most times. However, most Brazilians still have faith in their country’s economic future and still believe that their own personal financial situation will improve along with the country’s economic position in the world.