Nigeria tops global unemployment rating

A new report released by the World of Statistics has revealed that Nigeria is now the leading country in the world in terms of unemployment rate.

In the report released on Tuesday, Nigeria leads the rest of the world with 33.3 per cent, followed by South Africa 32.9 per cent, and Iran which comes in at third place with 15.55 per cent.

The report also stated that the lowest rate of unemployment for the period under review was in countries like Qatar with 0.1 per cent, Cambodia, 0.36 per cent, and Niger Republic at 0.5 per cent.

Read also: Economic group projects Nigeria’s unemployment rate to hit 37%
Relying on statistics from the National Bureau of Statistics (NBC), which put the unemployment rate in Nigeria from the second quarter of 2020 to May 2023, the World Statistics notes that unemployment rate in Nigeria has increased from 27.10 per cent to 33.30 per cent, making it the highest in the world.

A recent report by multinational consulting firm, KPMG, had also noted that the unemployment rate in Nigeria had increased to 37.7per cent in 2022, and would further rise to 40.6 per cent by the end of 2023 due to the continuing inflow of job seekers into the job market.

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now