The National Bureau of Statistics has stated on Friday that Nigeria’s Umemployment has worsened from 16.2% in the second quarter of the year to 18.8% in the third quarter of year 2017.
According to this statistics, about two million Nigerians who are within the age range of the Labour force have become unemployed as the unemployed population moved from 13.6 million in the second quarter to 15.9 million in the third quarter.
This, according to Data released by the NBS is as a result of the economic recession that decelerated the Nigerian economy until it finally excited in September 2017.
As stated in Premium Times
“An economic recession is consistent with an increase in unemployment as jobs are lost and new jobs creation is stalled,”
“A return to economic growth provides an impetus to employment. However, employment growth may lag, and unemployment rates worsen especially at the end of a recession and for many months after.”
Accordingly, the active or working age population (15 – 64 years of age) increased from 110.3 million in the second quater to 111.1 million in third quater of 2017, while the labor force population increased from 83.9 million in second quarter to 85.1 million in the third quater of 2017.
Also, reports state that the total number of people in full-time employment (at least 40 hours a week) declined from 52.7 million in Q2 2017 to 51.1 million in Qi 2017. The report added that total unemployment and underemployment combined increased from 37.2 percent in the previous quarter to 40.0 percent in Q3 2017.
During the quarter Q3 2017, 21.2 percent of women within the labour force (aged 15-64 and willing, able, and actively seeking work) were unemployed, compared to 16.5 percent of men within the same period. As reported by Premium Times.
However, the population of unemployed women who are within the active Labour force in the third quarter was 21.2 percent compared to that of the men which was 16.5 percent in the same period