In News by Oluwaseun Samuel on the 14th, August, 2020

Nigeria’s Unemployment Fee Rises To 27.1%

Nigeria’s Unemployment Rate Rises To 27.1%

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Nigeria’s Unemployment Fee Rises To 27.1%

The Nationwide Bureau of Statistics has lastly launched information on the nation’s unemployment charge after an 18-month interval, saying the unemployment charge rose to 27.1 per cent within the second quarter of 2020 from the 23.1 per cent recorded in Q3 2018.

The NBS, in its ‘Labor Drive Statistics: Unemployment and Underemployment Report’ launched on Friday, stated underemployment charge elevated from 20.1 per cent in Q3 2018 to 28.6 per cent in Q2 2020.

It stated, “For the interval beneath evaluation, Q2 2020, the unemployment charge amongst younger folks (15-34 years) was 34.9 per cent, up from 29.7 per cent, whereas the speed of underemployment for a similar age group rose to 28.2 per cent from 25.7 per cent in Q3 2018.

“These charges have been the best when in comparison with different age groupings.”

The NBS stated the variety of individuals within the economically energetic or working age inhabitants (15 – 64 years of age) elevated to 116,871,186 from 115,492,969 in Q3 2018.

It stated, “The variety of individuals within the labour pressure (i.e. folks inside ages 15 -64, who’re in a position and prepared to work) was estimated to be 80,291,894. This was 11.three per cent lower than the quantity individuals in Q3 2018.

“Of this quantity, these inside the age bracket of 25-34 have been highest, with 23,328,460 or 29.1 per cent of the labour pressure.”

The statistics workplace stated the entire variety of folks in employment in Q2 2020 fell by 15.eight per cent 58,527,276, in comparison with Q3 2018.

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“Of this quantity, 35,585,274 have been full-time employed (i.e. labored 40+ hours per week), whereas 22,942,003 have been under-employed (i.e. working between 20-29 hours per week),” it added.

Based on the report, Imo State reported the best charge of unemployment with 48.7 per cent, adopted by Akwa-Ibom State and Rivers State with 45.2 per cent and 43.7 per cent respectively.

It stated Anambra recorded the bottom charge of unemployment at 13.1 per cent.

The NBS stated, “For underemployment, the state which recorded the best charge was Zamfara with 43.7 per cent, whereas Anambra State recorded the bottom underemployment charge, with 17 per cent in Q2 2020.

“A complete variety of 2,736,076 didn’t do any work within the final seven days previous the survey because of the lockdown however had safe jobs to return to after the lockdown.”

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