JUST IN: 23.1m Nigerians Without Job As Unemployment Rate Hits 33.3%

March 15, 2021
14 Views

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.

This was contained in the latest figures from the National Bureau of Statistics (NBC), on Monday.

According to the NBS stated in its report on ‘Labour force Statistics: Unemployment and underemployment report- Abridged labour force survey under COVID-19 (Q4, 2020), this translates to 23.19 million unemployed people.

“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,” the report read partly.

You may be interested

Atletico Madrid Pulls Out of European Super League Fantasy
News
3 views
News
3 views

Atletico Madrid Pulls Out of European Super League Fantasy

Webby - April 21, 2021

Atlético de Madrid’s Board of Directors, which met on Wednesday morning, has decided to formally communicate to the Super League…

Senate Again Rubber Stamps Buhari’s $1.5Bn, €995m Loan Request
News
7 views
News
7 views

Senate Again Rubber Stamps Buhari’s $1.5Bn, €995m Loan Request

Webby - April 21, 2021

The Senate approved the federal government’s $1.5 billion, Euro 995 million foreign loan today. The Senate, headed by Senate President…

PANTAMI: Gajabiamila, Elumelu clash on resignation motion
News
News

PANTAMI: Gajabiamila, Elumelu clash on resignation motion

Webby - April 21, 2021

When Communications and Digital Economy Minister Isa Pantami’s case—his past combustible comments on Jihadism—was raised on the floor of the…

Leave a Comment

Your email address will not be published.