Unemployment rate


Venezuela (Bolivarian Republic of) is the top country by unemployment rate in the world. As of 2018, unemployment rate in Venezuela (Bolivarian Republic of) was 35 %. The top 5 countries also includes South Africa, Nigeria, Greece, and Sudan.

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Unemployment rate can be defined by either the national definition, the ILO harmonized definition, or the OECD harmonized definition. The OECD harmonized unemployment rate gives the number of unemployed persons as a percentage of the labor force (the total number of people employed plus unemployed). [OECD Main Economic Indicators, OECD, monthly] As defined by the International Labour Organization, "unemployed workers" are those who are currently not working but are willing and able to work for pay, currently available to work, and have actively searched for work. [ILO, http://www.ilo.org/public/english/bureau/stat/res/index.htm]