Nigeria’s Unemployment Rate Rises To 27.1% In Q2 2020 – NBS

By Chinenye Festus:-
The National Bureau of Statistics (NBS) disclosed that Nigeria’s unemployment rate has now gotten to 27 per cent in the second quarter of 2020, a move from 23.1 per cent reported in Q3 2018.
This was revealed in its ‘Labor Force Statistics: Unemployment and Underemployment Report’ released on Friday.
According to the NBS, the number of persons in the economically active age (15 – 64 years), jumped from 115,492,969 in Q3 2018 to 116,871,186 in Q2 2020.
“The number of persons in the labour force (i.e. people within ages 15 -64, who are able and willing to work) was estimated to be 80,291,894,” it said. This was 11.3 per cent less than the number of persons in Q3 2018.
“Of this number, those within the age bracket of 25-34 were highest, with 23,328,460 or 29.1 per cent of the labour force,” it added.
“Of this number, 35,585,274 were full-time employed (i.e. worked 40+ hours per week), while 22,942,003 were underemployed (i.e. working between 20-29 hours per week),” the report revealed.
At 48.7 per cent, Imo State has the highest unemployment rate in the country and is trailed by Akwa-Ibom State (45.2 per cent) and Rivers State (43.7 per cent).
A further narration into the latest NBS unemployment data indicated that the number of employed people in Q2 2020 slumped by 15.8 per cent to 58,527,276 when placed side by side with that of Q3 2018.
“Of this number, 35,585,274 were full-time employed (i.e. worked 40+ hours per week), while 22,942,003 were underemployed (i.e. working between 20-29 hours.
Due to the COVID-19 pandemic, the NBS said: “2,736,076 did not do any work in the last seven days preceding the survey due to the lockdown but had secure jobs to return to after the lockdown.”
“For underemployment, the state which recorded the highest rate was Zamfara with 43.7 per cent, while Anambra State recorded the lowest underemployment rate, with 17 per cent in Q2 2020,” the agency said.

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