Qatar’s unemployment ranks lowest in the world

Qatar’s unemployment ranks lowest in the world

QLNews
By QLNews

According to a tweet published by popular stats aggregator Spectator Index, Qatar has one of the lowest unemployment rates in the world.

Spectator Index published a tweet ranking countries from the highest to the lowest unemployment rates in the world, placing Qatar at the bottom of the list with an unemployment rate of 0.1 percent. Nigeria topped the list at 33.3 percent, closely followed by South Africa at 32.7 percent and then Iraq at 14.2 percent.

Other countries placed at the bottom of the list along with Qatar were Thailand with 1.1 percent, Singapore with 1.8 percent and Switzerland with 2 percent.

Qatar’s lowest unemployment ranking was further supported by World Bank data which showed that the country’s unemployment rate has been on the decline for the past three decades. According to World Bank data Qatar’s unemployment rate had reduced from 0.81 percent total unemployment in 1991 to 0.17 percent in 2021.

World Bank data also showed that Qatar’s total youth unemployment rate (% of total labor force between the ages of 15 – 24) has been declining over the past three decades, having reduced from 1.8 percent in 1991 to 0.5 percent in 2021.

Earlier this year, Qatar jumped three spots to improve its global ranking to 21 in the recently released Kearney’s 2023 Foreign Direct Investment (FDI) Confidence Index, highlighting the positive impact of the country’s economic diversification efforts as part of Qatar Vision 2030.

Having hosted a successful FIFA world Cup in 2022, Qatar is also gaining popularity as a tourist friendly destination with an exciting line up of events in the pipeline for both local and tourists.

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