Business
Unemployment on the rise –NBS
The National Bureau of Statistics on Friday confirmed the fears of many close watchers of the economy, as it noted that unemployment rate was on the rise.
In its release titled, ‘Unemployment/Under-employment Report for 3rd Quarter of 2016,’ the bureau acknowledged that the country’s unemployment rate had jumped from 13.3 per cent in the 2nd quarter to 13.9 per cent in the 3rd quarter of 2016.
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The report also had specific data spelt out for both the unemployed and the underemployed. According to the bureau, while the number of unemployed in the labour force increased by 555,311 persons, the underemployment rate rose from 19.3 per cent in second quarter to 19.7 per cent in the third quarter.
However, of greater concern is the fact that he latest stats represent eight consecutive rise in the unemployment rate since 4th quarter of 2014.
The Buhari-led administration has had to contend with a struggling economy bogged down by a drastic fall in revenue, spiraling inflation and a currency in near tatters.
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Animashaun Ayodeji
December 17, 2016 at 8:53 am
“unemployment rate had jumped from 13.3 per cent in the 2nd quarter to 13.9 per cent in the 3rd quarter of 2016,” as far as I am concerned, this is still fair. 2017 will be worse, we are already seeing the signs.
Johnson Amadi
December 17, 2016 at 9:04 am
Why won’t Nigeria be broke when there’s no job? How will money flow in the economy? The work force is more than the available, even the potential jobs. I hope God will intervene in Nigeria’s matter very soon.
JOHNSON PETER
December 17, 2016 at 12:58 pm
Is it lack of job that makes Nigeria broke? Hear yourselves now. Sometimes we spoke like fools. The money the civil servants are earning is even more than required. And most of these civil servants are ghost workers and some have no meaningful contribution to the nation’s income.
Employment is not yardstick to economy’s growth.
Roland Uchendu Pele
December 17, 2016 at 11:28 am
13.3 to 13.9 isn’t so much I think. Let’s just hope we get better in coming years.
yanju omotodun
December 17, 2016 at 12:30 pm
You don’t have sense at all. So we should wait till next year when the indices is higher than this.unemployment whether of little indices is not good at all.
Amaka Okoro
December 18, 2016 at 9:40 am
When this year is not better. Do you think coming year will be better. Stop hoping for coming year and make your own way
Emmanuel Alayegbami
December 17, 2016 at 1:54 pm
What is the way forward to address the issue of unemployment in Nigerian. Graduates are cumulating every year from higher institutions without hope of getting job.
Amarachi Okoye
December 18, 2016 at 9:34 am
Our government should do something because our graduate are not happy. Government should create space of job for them to manage than them staying at home