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What Country Has the Lowest Unemployment Rate?

The nation of Monaco boasted the lowest unemployment rate in the world in 2005, with a rate of 0 percent. A few other nations come close to that, with Qatar at 0.06 percent, followed by Thailand at 0.07 percent. Located on the Mediterranean Sea and adjacent to France, Monaco roughly the size of New York City’s Central Park.

More facts about Monaco:

  • According to 2011 estimates, there were about 30,000 citizens in Monaco. The French compose the largest ethic group in the country, with significant numbers of citizens of Italian descent. Roman Catholicism is the major religion in the nation, although its constitution allows for the presence of other faiths within Monaco’s borders.

  • The government of Monaco is a constitutional monarchy. Executive, legislative and judicial branches work in tandem with the ruling family of the nation, with the current ruler functioning as the Chief of State in the executive branch. Several political parties are active in the nation, including the Monegasque Party and the Union for Monaco party.

  • In addition to tourism, industries such as construction, food products, and cosmetics provide a significant number of employment opportunities in Monaco. Chemical production and the manufacturing of ceramics and plastics are also major industries within the small country.

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