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.
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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.