Nigeria’s Unemployment Rate Increased To 23.1% – NBS
Nigeria’s joblessness rate expanded from 18.8 percent in the second from last quarter of 2017 to 23.1 percent in the second from last quarter of 2018, the National Bureau of Statistics (NBS) has said.
The insights agency in a report Wednesday said the monetarily dynamic or working age populace (15 – 64 years old) expanded from 111.1 million in Q3 2017 to 115.5million in Q3 2018.
“The number of persons in the labour force (i.e. people who are able and willing to work increased from 75.94 million in Q3 2015 to 80.66 million in Q3 2016 to 85.1 million in Q3,2017 to 90.5million in Q3, 2018,” the report said.
“The total number of people in employment (i.e with jobs) increased from 68.4 million in Q3 2015, to 68.72 million in Q3 2016, to 69.09 million in Q3 2017 and 69.54 million in Q3 2018. The total number of people in full-time employment (at least 40 hours a week) increased from 51.1 million in Q3 2017 to 51.3 million in Q3, 2018.
“The total number of people in part-time employment (or underemployment) decreased from 13.20 million in Q3 2015 to 11.19 million in Q3 2016 but increased to 18.02 million in Q3 2017 and to 18.21 million in Q3 2018.”
The report said the total number of people classified as unemployed, which means they did nothing at all or worked too few hours (under 20 hours a week) to be classified as employed increased from 17.6 million in Q4 2017 to 20.9 million in Q3 2018.
Of the 20.9 million persons classified as unemployed as at Q3 2018 11.1 million did some form of work but for too few hours a week (under 20 hours) to be officially classified as employed while 9.7 million did absolutely nothing, the NBS said.
“Of the 9.7 million unemployed that did absolutely nothing as at Q3 2018, 90.1% of them or 8.77 million were reported to be unemployed and doing nothing because they were first time job seekers and have never worked before.
“On the other hand, 9.9 million 0r 0.9% of the 9.7 million that were unemployed and doing nothing at all reported they were unemployed and did nothing at all because they were previously employed but lost their jobs at some point in the past which is why they were unemployed.
“Of the 9.7 million that were unemployed and did nothing at all, 35.0% or 3.4 million have been unemployed and did nothing at all for less than a year, 17.2% or 1.6 million for a year, 15.7% or 1.5 million had been unemployed and did nothing for 2 years, and the remaining 32.1% or 3.1 million unemployed persons had been unemployed doing nothing for 3 and above years.”