Nine Countries Where Everyone Has A Job

 

Earlier this month, polling agency Gallup released its 2011 global unemployment statistics for 148 countries. Of the nations Gallup surveyed, nine had unemployment rates below 5 percent. The majority are in Asia, with the remainder in central or eastern Europe. 24/7 Wall St. reviewed these nine countries to determine the underlying causes of their extremely low jobless rates.

We looked at these countries in light of the fact that some economists believe that unemployment of 5 percent or less is considered "full employment." The argument is that less than 5 percent unemployment is impossible once normal turnover, job deferment and retirement are taken into account. In fact, the agency’s findings highlight the problem with comparing unemployment levels across nations; similar unemployment rates in different countries do not necessarily mean conditions are the same...