Unemployment Rate Rises to 23.1% in Q3

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  • 20.9m Nigerians jobless

James Emejo in Abuja

The country’s unemployment rate worsened in the third quarter of 2018 (Q3,2018), rising from 18.8 per cent in Q3 2017 to 23.1 per cent in the third quarter of 2018, the National Bureau of Statistics’ (NBS) labour report has shown.

According to the Labour Force Statistics – Volume I released on Wednesday, the total number of people classified as unemployed – which means they did nothing at all or worked for few few hours (under 20 hours a week) – increased from 17.6 million in Q4 2017 to 20.9 million in Q3 2018.

The economically active or working age population (15 –64 years of age) also increased from 111.1 million in Q3, 2017 to 115.5 million in Q3, 2018.

The labour force, which is the number of people who are able and willing to work rose to 90.5million in Q3, 2018 from 75.94 million in Q3 2015, 80.66 million in Q3 2016 and 85.1 million in Q3,2017, it stated.

Details later….