Nigeria\u2019s 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 National Bureau of Statistics have revealed.
\nThe NBS stated in its report on \u2018Labour force Statistics: Unemployment and underemployment report- Abridged labour force survey under Covid-19 (Q4, 2020) that this translates to 23.19million unemployed people.
\nPart of the report read, \u201cDuring 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.
\n\u201cA combination of both the unemployment and underemployment rate for the reference period gave a figure of 56.1 per cent.
\n\u201cThis 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.
\n\u201cThis is an additional 1,422,772 persons from the number in that category in Q2, 2020.
\n\u201cUsing the international definition of unemployment, the rate was computed to be 17.5 per cent.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
Nigeria\u2019s 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 National Bureau of Statistics have revealed. The NBS stated in its report on \u2018Labour force Statistics: Unemployment and underemployment report- Abridged labour force survey under Covid-19 […]<\/p>\n","protected":false},"author":1,"featured_media":257148,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[76],"tags":[688],"class_list":["post-257410","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","tag-front-pix"],"_links":{"self":[{"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/posts\/257410","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=257410"}],"version-history":[{"count":0,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/posts\/257410\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/media\/257148"}],"wp:attachment":[{"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=257410"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=257410"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=257410"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}