Nine Countries Where Everyone Has A Job

Print Email

1. Austria
> Unemployment: <5%
> GDP: $351.4 billion (35th highest, out of 225)
> GDP per capita (PPP): $41,700 (18th highest, out of 226)
> Pct. working full-time for an employer: 50%+

According to the World Bank, Austria’s unemployment rate has remained below 5% — excepting a minor hiccup of 5.2% in 2006 — since the organization began recording the statistic in 1982. Austria has a highly advanced market economy, which thrives on its large service and industrial sectors. It has maintained low unemployment in recent years, including throughout the recession. This is due largely to the government subsidizing the reduction of work hours for companies. According to the Austrian Times, the country currently has the lowest unemployment rate among all EU countries.

2. Belarus
> Unemployment: <5%
> GDP: $141.2 billion (60th highest, out of 225)
> GDP per capita (PPP): $14,900 (85th highest, out of 226)
> Pct. working full-time for an employer: 50%+

Since the mid-2000s, former Russian satellite nation Belarus has had an above-average GDP growth nearly every year. In 2010, Belarus had the one of the highest rates of industrial growth (a separate measure than GDP growth) in the world, at 10.5%. This may have had some impact on the country’s extremely low unemployment rates, but there are other factors at work. According to the Belarus Digest, these low unemployment numbers are not all they appear to be. As part of public policy, those who register to receive unemployment benefits must register for a public works program. These positions are usually only part-time, and the pay is low. According to the CIA, there is a “large number of underemployed workers” in the country. Still, at least 50% of residents are working full-time for an employer.

3. China
> Unemployment: <5%
> GDP: $11.3 trillion (2nd highest, out of 225)
> GDP per capita (PPP): $8,400 (119th highest, out of 226)
> Pct. working full-time for an employer: 30% – 39%

Although China’s unemployment rate is reportedly below 5%, only 30% to 39% of the labor force are working full-time for an employer — a relatively small amount. This is likely the result of the country’s high rate of subsistence jobs. The country also has a large number of jobs in the public sector. Additionally, it is the world’s largest exporter. China enacted its 12th Five-Year Plan in March 2011, which “emphasizes continued economic reforms and the need to increase domestic consumption in order to make the economy less dependent on exports in the future,” according to the World Factbook.

4. Japan
> Unemployment: <5%
> GDP: $4.4 trillion (4th highest, out of 225)
> GDP per capita (PPP): $34,300 (37th highest, out of 226)
> Pct. working full-time for an employer: 50%+

Japan’s economy was hit hard by last year’s earthquake and tsunami. A large proportion of the country’s power grid was crippled, which has hurt Japan’s massive auto industry. The power grid remains crippled still. The country’s GDP has either contracted or grown at a very low rate in the past five years. Last year, it contracted 0.5%, the 14th-largest decline among the 215 countries measured by the CIA. Nevertheless, unemployment in the country is less than 5%, and at least 50% of the population is employed full-time by an employer.