Recent figures from National Bureau of Statistics (NBS) has shows that Nigeria’s unemployment rate rose to 33.3 percent in the fourth quarter of 2020 (Q4 2020) compared to 27.1 percent in Q2 this year.
What that meant was that 23.18 million persons of the country’s labour force either did nothing or worked for less than 20 hours a week, making them unemployed by the country’s definition of unemployment.
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It also meant that there was an additional 1.42 million persons added to the country’s unemployment portfolio when compared to
21.77 million unemployed persons in Q2.
However, the NBS pointed out that the underemployment rate decreased from 28.6 percent to 22.8 percent in the period under review.
The federal Governrment is yet to react to this new revelation from the NBS.
AFRICA TODAY NEWS, NEW YORK