Subscribe
AEC Quarterly
No Result
View All Result
  • Big Story
  • Opinion
  • Energy
  • Interviews
  • Africa
  • Investment
  • Big Story
  • Opinion
  • Energy
  • Interviews
  • Africa
  • Investment
No Result
View All Result
AEC Quarterly
No Result
View All Result

Nigeria’s unemployment rate rises to 33.3% – second highest in the world

By Ogine Victor

2 years ago
Reading Time: 2 mins read
unemployment

Nigeria’s unemployment rate has jumped from 27.1% in the second quarter of 2020 to 33.5% in the fourth quarter of the same year. This is according to the Nigeria Bureau of Statistics (NBS).

According to a report published on its website, Nigeria’s unemployment rate rose to 33.3 percent, translating to some 23.2 million people; the second-highest rate in the world.

The NBS also put the underemployment rate at 22.8% in Q4 2020 (28.6% in Q2 2020) while the total of unemployment and underemployment was put at 40% in Q4 2020 (35.2% in Q2 2020)

Related articles

Groundbreaking Malaria Vaccine is ready for use

President Buhari signs historic PIB into Nigeria’s Law

“The number of persons in the economically active or working-age population (15 – 64 years of age) during the reference period of the survey, Q4, 2020 was 122, 049,400,” NBS stated.

The report further put the number of persons in the labour force that is people between ages 15 -64, who are able and willing to work at 69.675,468.

“This was 13.22% less than the number persons in Q2, 2020. This number, those within the age bracket of 25-34 were highest. With 20,091_695°r 28.8% of the labour force,” NBS said.

Also Read: Unemployment: Nigeria needs 5 million jobs annually for 10 years to close gap – IMF

The unemployment rate among rural dwellers was 343%, up from 28.2% in Q2, 2020, while urban dwellers reported a rate of 31.3% up from 26,4%.

In the case of underemployment among rural dwellers, it declined to 26.9% from 313%, while the rate among urban dwellers decreased to 16.2% from 23.2% ing2, 2020.

Across the states, Imo reported the highest rate of unemployment with 56.6 percent, followed by Adamawa and Cross River with 54.9 percent and 53.7 percent respectively.

Osun State had the lowest rate at 11.7 percent.

Experts have continued to attribute the increase in the unemployment rate figures to the after-effect of the covid-19 induced lockdown which caused my organisations to reduce their work force as a means to cope amidst the pandemic.

Source: AECQUARTERLY
Tags: Nigeria Bureau of Statistics (NBS)Nigeria’s unemployment rate rises to 33.3% - second-highest rate in the world
Share122Tweet77Share31
Previous Post

WTO boss pledges support towards boosting Nigeria’s export, female entrepreneurs

Next Post

Tanzania’s President John Pombe Magufuli dead age 61

Related Posts

First malaria vaccine rollout commences in Africa
Africa

Groundbreaking Malaria Vaccine is ready for use

September 3, 2021
Nigeria: President Buhari signs historic PIB into Law
Big Story

President Buhari signs historic PIB into Nigeria’s Law

August 17, 2021
Chibok campaign
Big Story

7 Years Later, One More Chibok Girl Returns Home

August 9, 2021
Health services buckle under third wave COVID outbreak in Africa
Covid-19

Africa records 1 million new COVID cases in one month

July 16, 2021
Algeria celebrates Independence Day
Big Story

Here are 5 Things You didn’t Know About Algeria

July 5, 2021
COVID-19 Vaccine
Big Story

Why Can’t Nigeria Produce COVID-19 Vaccines

July 1, 2021

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Popular Post

  • 5 Young African Entrepreneurs to look out for in 2021

    5 Young African Entrepreneurs to look out for in 2021

    317 shares
    Share 127 Tweet 79
  • Meet Cira-O3, Egypt’s COVID-19 Robot Nurse

    313 shares
    Share 125 Tweet 78
  • Winning in the African Oil and Gas Industry

    312 shares
    Share 125 Tweet 78
  • Africa claims Top 3 spots for the Highest Concentration of Women Entrepreneurs in the World

    312 shares
    Share 125 Tweet 78
  • Assessing Africa’s Digital Response Strategy to COVID-19

    311 shares
    Share 124 Tweet 78

Recommended

Ugandans go to polls after election campaign marred by violence

Ugandans go to polls after election campaign marred by violence

January 14, 2021
Unemployment: Nigeria needs 5 million jobs annually for 10 years to close gap — IMF

Unemployment: Nigeria needs 5 million jobs annually for 10 years to close gap — IMF

February 9, 2021

Sign Up For AEC Quarterly Newsletter

Get our most compelling stories delivered straight to your inbox.

AEC Quarterly

AEC Quarterly is a great read for investors looking for new opportunities with articles and reports exploring growth, creativity and entrepreneurial spirit.

  • Big Story
  • Africa
  • Opinion
  • Energy
  • Finance
  • Interviews
  • Home
  • About
  • Contact
  • Get Featured in AEC Quarterly Magazine

© 2020 AEC Quarterly. All Rights Reserved. Use of this site constitutes acceptance of our, Terms of Use and Privacy Policy.

No Result
View All Result
  • Big Story
  • Opinion
  • Energy
  • Interviews
  • Africa
  • Investment

© 2023 JNews - Premium WordPress news & magazine theme by Jegtheme.

Go to mobile version