Former Yugoslav Republic of Macedonia

worst economy macedonia
  • Measure: Unemployment rate
  • 2013 estimate: 30.02%

Macedonia tops the unemployment rankings for the second year in a row. The IMF predicts nearly one-third of workers in the southeast European nation will be out of a job this year.

Still, there may be some relief ahead. The economy, which counts agriculture, textiles and automotives among its major industries, is expected to grow modestly this year.

Related: Why Southern Europe is in crisis mode

And the labor market may be slightly healthier than it appears. Official unemployment statistics do not include the former Yugoslav republic's so-called gray market, which is thought to make up a significant portion total economic activity.

First published January 10, 2014: 11:27 AM ET
Source: International Monetary Fund
The IMF does not publish unemployment statistics for every country -- but of those listed, Macedonia has the highest rate.

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