Unemployment In Nigeria Still On The Rise – NBS Reveals

The National Bureau of Statistics (NBS) has revealed that the unemployment rate in Nigeria has risen in the third quarter of 2017 to 18.8% from 16.6%.

According to the report which was released by the NBS and made available to Bigpen Online, the NBS stated that the number of unemployed people within the labour force increased from 13.6 million in the second quarter of the year to 15.9 million in the third quarter with more than two million people unemployed within the period.

The Data released by NBS showed that the rise was occasioned by the economic recession that saw the nation’s growth decelerate until September 2017 when Nigeria finally exited recession.

“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.” The reports said

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The reports also highlighted the increase in the labour force population from 83.9million in second quarter to 85.1 million in the third quarter of 2017 and the total number of people in full-time employment (at least 40 hours a week) declined from 52.7 million in the second quarter of 2017 to  51.1 million in the third quarter.

The report also added that the total unemployment and underemployment rates increased from 37.2% in the previous quarter to 40.0% in the third quarter.

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