Every year, Steve Hanke, an American Professor of Applied Economics at the John Hopkins University in the United States and Forbes contributor releases his annual Misery Index.
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5 African nations with the most miserable people
Nigeria has been ranked as the sixth most miserable country in the world by an annual Misery Index but it is not the only African nation on the list.
The high unemployment rate in Nigeria makes it the most miserable country in Africa and the 6th in the world
In order to figure out the most miserable countries, he looks at unemployment, inflation and bank lending rates across the world.
The places that score high on these economic indices are considered sad and miserable. As Hanke puts it, "A higher Misery Index score reflects a higher level of "misery".
The latest Misery Index ranking features 95 countries including five nations from Africa.
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Here are the five African nations with the most miserable people:
- Nigeria
Misery Index: 43.0
Major Contributing Factor: High unemployment rate
According to this report, Nigeria is the most miserable country in Africa and the 6th in the world.
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Nigeria is the most miserable place in Africa, according to the latest Misery Index (Forbes)
Pulse Nigeria
- South Africa
Misery Index: 42.0
Major Contributing Factor: High unemployment rate
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- Egypt
Misery Index: 36.8
Major Contributing Factor: Unemployment rate
An unemployed man
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- Algeria
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Misery Index: 21.9
Major Contributing Factor: Unemployment rate
- Mauritius
Misery Index: 17.9
Major Contributing Factor: Lending rate
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Workers process tuna at the Thon des Mascareignes factory in Mauritius' capital Port Louis in a file photo. REUTERS/Ed Harris
Reuters
On the other hand, the 7th World Happiness Report by the Sustainable Development Solutions Network ranks Mauritius as the happiest nation in Africa followed by Nigeria and Cameroon.
The misery index was originally created by a member of the Council of Economic Advisers to U.S. President Lyndon B. Johnson called Arthur Okun. He invented it in the 1970s while working at the Brookings Institution.
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