In
a new quarterly report, the National Bureau of Statistics (NBS) has
confirmed that Nigeria is in its worst economic recession in 29 years.
The report says the total number of
Nigerians who became unemployed within the first and second quarter of
2016 is 2.6 million.
According to the report, while about 1.46 million Nigerians became
unemployed in the third quarter of 2015, another 518,102 became
unemployed in the fourth quarter of 2015.
“During the reference period, the number of unemployed in the
labour force increased by 1,158,700 persons, resulting in an increase in
the national unemployment rate to 13.3% in Q2 2016 from 12.1 in Q1
2016, 10.4% in Q4 2015 from 9.9% in Q3 2015 and from 8.2% in Q2 2015,” NBS said.
“In view of this, there were a total of 26.06 million persons
in the Nigerian labour force in Q2 2016, that were either unemployed or
underemployed compared to compared to 24.5 million in Q1 2016 and 22.6
million in Q4 2015.”
The economically active population or working age population
(persons within ages 15- 64) increased from 106million in Q1 2016 to
106.69 million in Q2 2016, the report added.
Underemployment in the economy was also on the rise, with 15.4 million Nigerians said to be underemployed.
“The number of underemployed in the labour force (those working
but doing menial jobs not commensurate with their qualifications or
those not engaged in full-time work and merely working for few hours)
increased by 392,390 or 2.61%, resulting in an increase in the
underemployment rate to 19.3 % (15.4million persons) in Q2 2016 from
19.1% (15,02 million persons) in Q1 2016, 18.7% (14.42 million persons)
in Q4 2015, from 17.4% (13.2 million persons) in Q3 2015 and 18.3% (13.5
million persons) in Q2 2015.”
There were a total of 26.06 million persons in the Nigerian labour
force in Q2 2016, that were either unemployed or underemployed compared
to compared to 24.5 million in Q1 2016 and 22.6 million in Q4 2015.
Sources: TheCable News / Nigerian Bureau of Statistics
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