Sunday, December 25

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Nearly 2 million Nigerians became jobless in 2016




The harsh economic situation in the country has thrown some 1.7 million Nigerians back into the job market in last nine months, according to a report from the National Bureau of Statistics.


The unemployment report which covered January to September this year specifically showed that the number of unemployed Nigerians rose from 9.48 million at the beginning of the year to 11.19 million by September ending.

Unemployment was highest for persons in the labour force between the ages of 15-24 and 25-34, representing the youth population in the labour force.

The report also noted that unemployment and underemployment were higher for women than men in the third quarter of 2016.

It said while 15.9 per cent of women in the labour force were unemployed as of the third quarter ending this year, a further 22.9 per cent of women in the labour force were underemployed during the period.

On the other hand, the report said 12 per cent of males were unemployed in the third quarter of 2016, while 16.7 per cent of males in the labour force were underemployed during the same period.

Financial experts have warned that the huge preference for imported items by many Nigerians, if left unchecked, could further worsen the unemployment situation.

The President, Abuja Chamber of Commerce and Industry, Mr Tony Ejinkeonye, called for a more aggressive diversification of the economy to reverse the unemployment situation in the country.

He said aggressive diversification of the economy through agriculture and solid minerals is vital as it would help to create more jobs for the people and reduce the level of poverty in the country.


Nigerian economy plunged deeper into recession as gross domestic product (GDP) contracted by 2.24 per cent in the third quarter of 2016

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