Business

NBS Pegs Unemployment Rate In Nigeria At 27.1%

National Bureau of Statistics, NBS says the Unemployment rate in Nigeria has risen to 27.1 per cent in the second quarter of 2020.

The latest report comes several quarters after the statistics bureau released its last report in 2018 which is an increase from the 23.1% unemployment rate recorded in the third quarter of 2018.

In the 2018 report, Nigeria’s unemployment rate increased from 18.8 per cent in the third quarter of 2017 to 23.1 per cent in the third quarter of 2018.

The statistics bureau said the economically active or working age population increased from 111.1 million in Q3 2017 to 115.5million in Q3 2018.

The working age population is between 15 – 64 years.

Unemployment Rate In Nigeria

Unemployment Rate In Nigeria
Unemployment Rate In Nigeria

However, the Nigerian economy has been hit by the impact of the coronavirus, amid depleting oil revenues.

Experts said the economic downturn would affect employment generation as companies cut cost and lay off workers to stay afloat.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
We would like to show you notifications for the latest news and updates.
Dismiss
Allow Notifications