From oil-rich Qatar to agricultural economies like Cambodia, this report draws on the CIA’s most authoritative 2024 estimates to present the ten countries with the lowest unemployment rates globally. These nations differ on the basis of a vast geography, economic structure and population but share extremely low percentages of unemployment. They also excel in offering fascinating case studies in what drives employment. The figures also prompt deeper questions about labour market structures, under-employment and statistical methodologies. Keep reading to know more about these nations.
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List of Top 10 Countries with the Lowest Unemployment Rates
Here are the countries, which lead the global employment with unemployment rates hovering near zero. Below is the table showing ranking of the top countries, based on the CIA World Factbook’s 2024 estimates:
Rank | Country | Unemployment Rate (%) (2024 est.) |
1 | Qatar | 0.2 |
2 | Cambodia | 0.3 |
3 | Niger | 0.4 |
4 | Thailand | 0.7 |
5 | Burundi | 1.0 |
6 | Chad | 1.1 |
7 | Bahrain | 1.2 |
8 | Laos | 1.3 |
9 | Solomon Islands | 1.5 |
10 | Moldova | 1.5 |
Source:(All data from CIA World Factbook, 2024 estimates.)CIA
Here are the Top Five Countries with the Lowest Unemployment Rates as per recent data by the CIA:
1. Qatar (0.2%)
Qatar tops the list with only an estimated 0.2 % unemployment rate. Its energy-driven economy and extensive migrant workforce likely contribute to this incredibly low figure, as reported byCIA.
2. Cambodia (0.3%)
Cambodia’s reported unemployment rate of 0.3 % might understate underemployment, as many workers are in subsistence agriculture or informal sectors.
3. Niger (0.4%)
With 0.4 % unemployment, Niger may have a high rate of informal or subsistence jobs that are not reflected in formal statistics. Further, agriculture is the main source of employment, primarily millet, sorghum, and livestock. CIA
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4. Thailand (0.7%)
Thailand’s rate of 0.7 % reflects strong demand in tourism and agriculture, though urban underemployment and informal work remain considerations. The tourism industry provides the main source of employment in Thailand.
5. Burundi (1.0%)
Burundi reports just 1.0 % unemployment, but the majority of its population works in informal agriculture, mainly the tea and coffee plantations, which is an aspect that may not be fully captured.
Conclusion
Therefore, these countries exemplify the extremes of low unemployment but figures alone don’t tell the whole story. There are many experiences which reflect informal employment, migrant labour or statistical nuances. Still, they offer valuable insights into how differing economic structures shape labour markets.
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