News

Nigeria’s Unemployment Rate Increases To 27.1% As At 2020 Q2

Nigeria’s unemployment rate as at the second quarter of 2020 is 27.1% while her underemployment rate is 28.6%. This means that around 21.7 million Nigerians are unemployed. Nigeria’s unemployment and underemployment rate combined is 55.7%.

This information was published by the National Bureau of Statistics. Nigeria’s unemployment rate was in Q3 2018 was 23.1% in Q3 2018 confirming a 4% increase between then and the second quarter of 2020.

The number of people in the economically active or working-age population (around 15 – 64 years of age) at the reference period of the survey, Q2, 2020 was 116,871,186.

The number of people in the labour force (people within ages 15 -64, that are able and willing to work) was estimated to be 80,291,894.

Nigeria’s youth is still the hardest hit by unemployment with over 13.9 million people aged between 15 and 34 years unemployed.

Women bear the brunch of bad economy as about 12.2 million of them are out of jobs from the 27 million currently unemployed.

Graduates and post graduates made up about 2.9 million of the total unemployed Nigerians.

28.8 million out of employed Nigerians never attended school (6.29 million) or did not have a tertiary education (22.5).

Categories: News

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