Nigeria’s unemployment rate rises to second highest on global list

TNT Newsline March 20, 2021 33

 

Nigeria’s unemployment level is now the second highest in the world, according to a global list of countries monitored by Bloomberg.

The report stated that the jobless rate in Nigeria rose to 33.3% in the three months through December, according to a report published by the National Bureau of Statistics on its website on Monday.

That’s up from 27.1% in the second quarter of 2020, the last period for which the agency released labour-force statistics.

A third of the 69.7 million-strong labour force in Africa’s most-populous nation either did nothing or worked for less than 20 hours a week, making them unemployed, according to the Nigerian definition.

Another 15.9 million worked less than 40 hours a week, making them underemployed.

The oil producer surpassed South Africa on a list of 82 countries whose unemployment rates are tracked by Bloomberg. Namibia still leads the list with 33.4%.

Nigeria’s jobless rate has more than quadrupled over the last five years as the economy went through two recessions, casting a shadow over the efforts to implement policies to drive growth and create jobs by President Muhammadu Buhari’s administration. (Nigerian Tribune)

33 thoughts on “Nigeria’s unemployment rate rises to second highest on global list”

Leave a Reply

Your email address will not be published.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

News You may have missed

JUST IN: Auto firm gifts Afrobeats singer Davido luxury car for 32nd birthday •PHOTO SPLASH

editor November 21, 2024 0

REVEALED: Terrorists using girls as suicide bombers, sex slaves – Counter Terrorism Centre

editor November 21, 2024 0

Live turtles, military hardware worth N3.32 billion intercepted at Lagos airport

editor November 21, 2024 0

Importers panic as more banks begin system upgrade

editor November 21, 2024 0

Tinubu is PDP’s problem, has no business appointing Wike minister – Sowunmi

editor November 21, 2024 0