IMF Forecasts Unemployment Stats for 2023
Islamabad: The International Monetary Fund (IMF) has released its unemployment prediction for 2023, according to the most recent information.
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The pandemic has had a significant impact on economies around the world and has altered job market circumstances. The IMF analysis predicts that South Africa would have the highest unemployment rate in the world in 2023, with an estimated 35.65 percent.
Because of the weak economy and onerous labor laws, businesses have been unable to hire new workers. Nonetheless, the U.S. employment rate will be 4.8%, which is 1.2% higher than the current levels.
Below is the IMF’s 2023 Unemployment Forecast:
Below are the details about the IMF 2023 Unemployment Rate Data:
| Country/Region | Unemployment Rate 2023 |
| South Africa | 35.6% |
| Sudan | 30.6% |
| West Bank & Gaza | 25.0% |
| Georgia | 19.5% |
| Bosnia & Herzegovina | 17.2% |
| Armenia | 15.1% |
| North Macedonia | 15.0% |
| Costa Rica | 13.2% |
| The Baharnas | 12.7% |
| Spain | 12.3% |
Bosnia and Herzegovina and other nations in Europe are expected to have the highest unemployment rates, which hover around 17%. Moreover, it is followed by Spain at 12.7% and North Macedonia at 15.0%. These unemployment rates are more than twice as high as what is anticipated for Europe’s advanced economies.
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Similar to the United States, a number of nations—particularly those in Asia, Europe, and the United Kingdom—are seeing robust labor markets, though it is yet unclear how long this trend will endure.
Stay tuned with Al Sadat Marketing for more updates.
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