According to International Monetary Fund (IMF) projections, BRICS member countries generally have higher unemployment rates than the average for developed countries.
BRICS is a multilateral cooperation organization currently comprising nine countries: Brazil, Russia, India, China, South Africa, Iran, the United Arab Emirates, Egypt, and Ethiopia.
The IMF projects that the unemployment rate in South Africa will reach 33.7% of its total workforce in 2024.
Further projections show unemployment rates of 8% in Iran, 7.2% in Brazil, 7.2% in Egypt, and 5.1% in China. All are higher than the average unemployment rate in developed countries, which is only 4.6%.
The only BRICS member country with an unemployment rate lower than the average for developed countries is Russia, at 2.6%.
Unemployment data for other BRICS member countries, namely India, the United Arab Emirates, and Ethiopia, is unavailable.
Currently, the Indonesian government is in the process of joining BRICS.
"Indonesia's joining of BRICS is a manifestation of its active and independent foreign policy. It doesn't mean we're joining a particular bloc, but rather that we're actively participating in all forums," said Foreign Minister Sugiono in a press release on Thursday, October 24, 2024.
"We also see that BRICS priorities are in line with the Red and White Cabinet's work program, including those related to food and energy security, poverty eradication, and human resource development," he added.