4:32 pm - Saturday September 23, 7228

SAD: Over 23 million Nigerians are jobless -Nigeria’s National Bureau of Statistics …Unemployment rate in Nigeria hit 33.3% * Quote from Q4, 2020 report: “A combination of both the unemployment and underemployment rate for the reference period gave a figure of 56.1 per cent. This means that 33.3 per cent of the labour force in Nigeria or 23,187,389 persons either did nothing or worked for less than 20 hours a week, making them unemployed by our definition in Nigeria” * BY DAVID AMAECHI Business Reporter, Abuja

 

SAD:

Over 23 million Nigerians are jobless -Nigeria’s National Bureau of Statistics

…Unemployment rate in Nigeria hit 33.3%

* Quote from Q4, 2020 report: “A combination of both the unemployment and underemployment rate for the reference period gave a figure of 56.1 per cent. This means that 33.3 per cent of the labour force in Nigeria or 23,187,389 persons either did nothing or worked for less than 20 hours a week, making them unemployed by our definition in Nigeria”

* BY DAVID AMAECHI Business Reporter, Abuja

WITHOUT mincing words, Nigeria’s Labour office has released its latest data through the National Bureau of Statistics, NBS, claiming Nigeria’s unemployment rate rose from 27.1 per cent in the second quarter of 2020 to 33.3 per cent in the fourth quarter of 2020, the latest figures from the NBS revealed on Monday. The NBS stated in its report on ‘Labour force Statistics: Unemployment and underemployment report- Abridged labour force survey under COVID-19 (Q4, 2020) that this translates to 23.19 million unemployed people.

 

Part of the report read, “During the reference period, the computed national unemployment rate rose from 27.1 per cent in Q2, 2020 to 33.3 per cent in Q4, 2020, while the underemployment rate decreased from 28.6 per cent to 22.8 per cent. “A combination of both the unemployment and underemployment rate for the reference period gave a figure of 56.1 per cent. “This means that 33.3 per cent of the labour force in Nigeria or 23,187,389 persons either did nothing or worked for less than 20 hours a week, making them unemployed by our definition in Nigeria. “This is an additional 1,422,772 persons from the number in that category in Q2, 2020. “Using the international definition of unemployment, the rate was computed to be 17.5 per cent.”

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