Compare finance worldwide

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RobertErUsy
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Joined: Sun Mar 14, 2021 8:12 am

Compare finance worldwide

Post by RobertErUsy »

To analyze the trends of 2021, we need to take a look back at the year 2020 and where we are starting from. Black swan events, such as the Coronavirus pandemic affected every country on the globe. However, that doesn’t mean we’re all starting the new financial year in the same boat. In the following graph, you can see the GDP growth and unemployment rates of the top 10 GDP countries in the world.All of top 10 GDP countries had higher unemployment rates and decreasing GDP growth in 2020. The United States had a GDP growth of just 3.1%, smaller than Canada and all their European counterparts, and an unemployment rate of 8.1%, which is more than double the rate recorded in February. China stands out for having the best GDP growth/unemployment ratio, while Japan has the lowest unemployment rate, just above 2%. Since GDP growth and unemployment rates are strongly inversely correlated, we expect that a reversal of the 2021 unemployment trends will be drastic as soon as global lockdowns and travel restrictions come to end. https://financer.com/ The year 2020 will forever be defined by the worldwide Coronavirus (COVID-19) outbreak. At the time of writing, there have been over 114 million cases and over 2.5 million lives claimed, and devastatingly, those numbers continue to grow each day. This highly contagious virus has not just impacted those infected, specific countries or sectors. However, the whole world has felt the impact of COVID-19, and for many that impact was financial.


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