The Nigeria Bureau of Statics has launched a brand new report which revealed that the nation’s unemployment charge jumped from 27.1% within the second quarter of 2020 to 33.5% in fourth quarter of the identical yr.
The company positioned underemployment charge at 22.8% in This autumn 2020 (28.6% in Q2 2020) whereas the whole of unemployment and underemployment was put at 40% in This autumn 2020 (35.2% in Q2 2020).
“The variety of individuals within the economically energetic or working age inhabitants (15 – 64 years of age) throughout the reference interval of the survey, This autumn, 2020 was 122,049,400.
“That is 4.3% greater than the determine recorded In Q2, 2020, which was 116.871,186.”
The variety of individuals within the labour power, that’s folks inside ages 15 -64 who’re in a position and keen to work was positioned at 69.675,468.
The report added;
“This was 13.22% lower than the quantity individuals in Q2, 2020. This quantity, these throughout the age bracket of 25-34 have been highest. with 20,091_695°r 28.8% of the labour power.
“The whole variety of folks in employment (folks with jobs throughout the reference interval was 46.488.079. Of this quantity. 30.572.4.40 have been full-time employed (i.e.. labored 404 hours per week), whereas 15,915,639 have been under-employed (Le., working between 20-29 hours per week) this determine is 20.6% lower than the folks in employment in Q2.2020.”
The unemployment charge amongst rural dwellers was 343%, up from 28.2% in Q2, 2020, whereas city dwellers reported a charge of 31.3% up from 26,4%.
Underemployment amongst rural dwellers declined to 26.9% from 313%, whereas the speed amongst city dwellers decreased to 16.2% from 23.2% in 2020.
The NBS report learn;
“The unemployment charge amongst folks aged 15- 34years was 42.5% up from 34.9%, whereas the speed of underemployment for a similar age group declined to 21.0% from 28.2% in Q2, 2020. These charges have been the best when in comparison with different age groupings.”