South Africa is projected to be the third most miserable economy to live and work in this year.

A misery index works by adding inflation to a country's unemployment, to give a view on how much it must suck to be a consumer in a given country because you have no job and everything is getting more expensive.

According to Bloomberg's survey, South Africa is the third worst in the world, with only Venezuela and Argentina coming in worse.

"The three countries that will probably see the most economic misery in 2015 — South Africa, Argentina and Venezuela — haven't budged much from their 2014 rankings, when they occupied three of the top four spots, the data showed," Bloomberg reported.

So there you have it, we aren't the worst economy in the world, we're third.