836,969 were added to the jobless market during the period under review
No fewer than 21.7 million Nigerians are without jobs, according to latest unemployment figures released by the National Bureau of Statistics, NBS on Friday.
According to the NBS, Nigeria’s unemployment figure rose from 23.1 per cent in Q3, 2018 to 27.1 per cent, while the underemployment rate increased from 20.1 per cent to hit 28.6 per cent.
A combination of both the unemployment and underemployment rate for the reference period gave a figure of 55.7 per cent.
“This means that 27.1 per cent of the labour force in Nigeria or 21,764,617 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 836,969 persons from the number in that category in Q3, 2018. Using the international definition of unemployment, the rate was computed to be 11.7 per cent,” NBS said in the report.
More details soon…