Punch Newspapers
Sections
Published 12:20 am
WITH one out of every three persons of working age unemployed, Nigeria is on the verge of a major social crisis. Already notoriously dubbed the world poverty capital, the self-styled ‘Giant of Africa’ is on its way to becoming the ‘world unemployment capital’ going by the latest report by the National Bureau of Statistics.
In its report, ‘Labour Force Statistics: Unemployment and Underemployment,’ the NBS said Nigeria’s unemployment rate rose from 27.1 per cent in the second quarter of 2020 to 33.3 per cent in Q4 2020. This means that within three to six months, over 1.4 million more people became unemployed. In real terms, 23.2 million people out of the 69.7 million people that make up the labour force are unemployed. With the jobless rate now at 33.3 per cent, Nigeria may be on its way to displacing Namibia, which currently has the highest unemployment rate in the world at 33.4 per cent, according to
Turkey s unemployed to hit 15 million after cancellation of pandemic allowance
ahvalnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ahvalnews.com Daily Mail and Mail on Sunday newspapers.
WORSENING UNEMPLOYMENT: Why jobs are disappearing in Nigeria, by experts
On
By Peter Egwuatu, Assistant Business Editor, Tunde Oso & Nkiru Nnorom
Unemployment rate in Nigeria rose from 27.1 percent to 33.3 percent from December to March 2021, according to the National Bureau of Statistics, NBS.
The NBS explained that the number of unemployed Nigerians rose to 23.19 million in the fourth quarter (Q4) of 2020 on the back of job losses occasioned by the outbreak of COVID-19 pandemic and its stifling impact on businesses during the period.
The Q4 unemployment rate report titled: ‘Labor Force Statistics: Unemployment and Underemployment Report’, showed that the number is 6.5 percent higher compared to 21.77 million.
Vanguard News
Unemployment rate rises further NBS
On
By Nkiruka Nnorom
ECONOMY
The number of unemployed Nigerians rose to 23.19 million in the fourth quarter (Q4) of 2020 on the back of job losses occasioned by the outbreak of COVID-19 pandemic and its stifling impact on businesses during the period.
The Q4 unemployment rate report released yesterday by the National Bureau of Statistics (NBS) titled: “Labor Force Statistics: Unemployment and Underemployment Report”, shows that the number is 6.5 percent higher compared to 21.77 million recorded by NBS as unemployed in Q2’20. The Bureau did not produce unemployment report for the third quarter 2020.
This also indicates a 33.3 percent unemployment level compared to 27.1 percent in the previous period in Q2’20.
The figures were contained in the Labor Force Statistics: Unemployment and Underemployment Report released by the National Bureau of Statistics (NBS) yesterday.
The document showed: “The number of persons in the labour force (that is, people within ages 15-64, who are able and willing to work) was estimated to be 69,675,468.
“This was 13.22 per cent less than the number of persons in Q2, 2020. Of this number, those within the age bracket of 25-34 were highest, with 20,091,695 or 28.34 per cent of the labour force. x
“This is the estimated number of persons within the economically-active population or working population that are available and willing to work. This implies that as of Q4 2020, only 57.09 per cent of Nigeria’s economically-active population is in the labour force.”
vimarsana © 2020. All Rights Reserved.