Nigeria’s unemployment rate rises to 27.1%, NBS releases report

Nigeria’s unemployment rate rises to 27.1%, NBS releases report

- It appears Nigeria's unemployment rate is getting worse

- The latest information on the nation's unemployment rate given on Friday, August 14, shows that unemployment is on the rise

- From 23.1% recorded in 2018, it has now jumped to 27.1%

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A document uploaded by the National Bureau of Statistics (NBS) on its Twitter page on Friday, August 14, indicates that the nation’s unemployment rate rose to 27.1% in the second quarter of 2020 from the 23.1% recorded in Q3 2018.

Legit.ng reports that the NBS, in its ‘Labor Force Statistics: Unemployment and Underemployment Report’ released on Friday, said underemployment rate increased from 20.1% in Q3 2018 to 28.6% in Q2 2020.

“For the period under review, Q2 2020, the unemployment rate among young people (15-34 years) was 34.9%, up from 29.7%, while the rate of underemployment for the same age group rose to 28.2% from 25.7% in Q3 2018. These rates were the highest when compared to other age groupings,” the document said.

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Breaking: Nigeria’s unemployment rate rises to 27.1% - NBS

The Statistician General of the National Bureau of Statistics of Nigeria (NBS). Credit: Twitter/Yemi Kale.
Source: Depositphotos

The NBS said the number of persons in the economically active or working-age population (15 – 64 years of age) increased to 116,871,186 from 115,492,969 in Q3 2018.

“The number of persons in the labour force (i.e. people within ages 15 -64, who are able and willing to work) was estimated to be 80,291,894. This was 11.3% less than the number persons in Q3 2018.

“Of this number, those within the age bracket of 25-34 were highest, with 23,328,460 or 29.1% of the labour force,” it added.

It also noted that the total number of people in employment in Q2 2020 fell by 15.8%, 58,527,276, compared to Q3 2018.

“Of this number, 35,585,274 were full-time employed (i.e. worked 40+ hours per week), while 22,942,003 were underemployed (i.e. working between 20-29 hours per week),” it said.

The report says that Imo state reported the highest rate of unemployment with 48.7%, followed by Akwa-Ibom state and Rivers state with 45.2% and 43.7% respectively.

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It said Anambra recorded the lowest rate of unemployment at 13.1%.

The NBS said: “For underemployment, the state which recorded the highest rate was Zamfara with 43.7%, while Anambra State recorded the lowest underemployment rate, with 17% in Q2 2020.

“A total number of 2,736,076 did not do any work in the last seven days preceding the survey due to the lockdown but had secure jobs to return to after the lockdown.”

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Meanwhile, Legit.ng had previously reported that NBS in its June inflation report released on Friday, July 17, said increases were recorded in all divisions that yielded the headline index.

It was reported that Nigeria’s Consumer Price Index (CPI) which measured inflation increased by 12.56% (year-on-year) in June 2020, added that this is 0.16% points higher than the rate of 12.40% recorded in May 2020.

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In another report, NBS said 24% of households in Nigeria do not have sufficient soap to wash hands to prevent the spread of COVID-19.

The NBS stated this in a report released on Tuesday, July 14. According to the report, 7% of households reported insufficient water for washing hands.

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Source: Legit Newspaper

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