The alarming rate of unemployment currently in Nigeria has been revealed and it will leave you quite flustered.
The National Bureau of Statistics has said that the number of Nigerians that are unemployed rose from 11.19 million as at the end of the third quarter of 2016 to 11.55 million in the fourth quarter of 2016.
The NBS stated this in its unemployment report which was released on Monday night.
The report explained that during the period, the unemployment rate rose from 13.9 per cent to 14.2 per cent.
The NBS report said that unemployment rate was highest for persons in the labour force between the ages of 15,24 and 25,34, which represents the youth population in Nigeria.
For instance, it said the unemployment rate was highest for those between the ages of 15 to 24 rising from 25 per cent to 25.2 per cent.
For the 25 to 34 age group, the unemployment rate, according to the NBS report increased from 15 per cent to 15.4 per cent.
It noted that unemployment and underemployment were higher for women than men in the fourth quarter of 2016.
For instance, it said 16.3 percent of women in the labour force were unemployed as at the end of the fourth quarter of 2016.
On the other hand, the report said 12. 3 per cent of males were unemployed in the fourth quarter of 2016.
It said, “The economically active population increased from 108.03 million to 108.59 million, this represents a 0.5 percent increase over the previous quarter and a 3.4 percent increase when compared to fourth quarter 2015.”
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