Nigeria’s unemployment rate has worsened from 16.2 per cent in the second quarter of 2017 to 18.8 percent in the third quarter of the year, according to the Nigeria Bureau of Statistics (NBS).
The NBS in its third quarter report of 2017, report also states that the country will experience an increased unemployment rate in 2018.The report showed that the number of Nigerians that became unemployed rose from 11.92 million in the first quarter of this year to 13.58 million and 15.99 million in the second and third quarters respectively.
It said between the second quarter and third quarter, the number of economically active or working-age population (15 – 64 years of age) increased from 110.3 million to 111.1 million.The report said the increasing unemployment and underemployment rates imply that although Nigeria’s economy is officially out of recession, domestic labour market is still fragile and economic growths in the past two quarters in 2017 have not been strong enough to provide employment in Nigeria’s domestic labor market.
Nigeria’s unemployment worsens as 18.8% are jobless, says NBS
