Browsing: Nigeria’s unemployment rate

Nigeria’s unemployment rate has risen to 33.3% in Q4, 2020.

The rate rose from 27.1% recorded as of Q2 2020, indicating that about 23,187,389 Nigerians remain unemployed.

According to the recently released labour force report published by the National Bureau of Statistics (NBS), the underemployment rate decreased from 28.6% to 22.8%.

The statistics show a combination of both the unemployment and underemployment rate for the reference period gave a figure of 56.1%.

This means that 33.3% of the labour force in Nigeria or 23,187,389 persons either did nothing or worked for less than 20 hours a week, making them unemployed.

This is an additional 1,422,772 persons from the number in that category in Q2, 2020. Using the international definition of unemployment, the rate was computed to be 17.5%.

Education

According to the report, those reporting A ‘levels as their highest qualification had the highest rate of unemployment with 50.7%, followed …