Common Problem in Developing and Developed Countries

If we compare developed countries with under-developed countries, then there are number of ways
established countries have out-numbered struggling countries in terms financial stability, advanced
technology etc. There is another fact of problems that both developing and developed countries have in
common. Unemployment is the major problem faced by whole world. Even economical strong countries
are unable to tackle to this problem completely. Even individuals belonging to developed countries,
have low income (talking about labor class) or don’t have jobs. Recent, the outbreak of covid-19 has
disturbed the whole world and pushed it towards pandemic situations, which eventually leads to shut-
downs in industries. Owners of industries, have fired numerous employees, leading to unemployment.
Financial stability of countries depends on the employment rate, the higher the rate, the better it is for
financial stability of the country. COVID-19 has impacted the world’s economy drastically. Talking about
struggling countries, individuals have no-employment opportunities. Individuals usually involve in
agricultural activities, working by hand etc. and these individual are working at very low wages that its
practically impossible for them fulfill their needs. They work because of unavailability of further jobs.
According to statistics, In 2020 the un-employment rate of Pakistan is 4.45% and in US its 6.9%. As US is
financially strong than Pakistan, but still unemployment is there.