Nbs 16 million nigerians unemployed 3rd quarter 2017 #comments
A very relevant and timely topic!
According to the National Bureau of Statistics (NBS) in Nigeria, the unemployment rate in the country stood at 16.6 million in the third quarter of 2017. This represents a significant increase from the 13.6 million unemployed persons recorded in the same period in 2016.
Here are some key statistics from the NBS report:
- Unemployment rate: The unemployment rate in Q3 2017 was 14.2%, up from 13.9% in Q3 2016.
- Number of unemployed persons: There were 16.6 million unemployed persons in Q3 2017, up from 13.6 million in Q3 2016.
- Youth unemployment: The youth unemployment rate was 33.1%, with 11.5 million young people (15-35 years) unemployed.
- Underemployment: The underemployment rate was 18.8%, with 17.4 million people underemployed.
- Regional disparities: The unemployment rate varied across regions, with the North-East having the highest rate (23.4%) and the South-West having the lowest rate (10.4%).
The NBS attributed the increase in unemployment to several factors, including:
- Slow economic growth: The Nigerian economy has been experiencing a slow growth rate, which has impacted job creation.
- Lack of infrastructure: Inadequate infrastructure, such as power and transportation, has hindered business growth and job creation.
- Brain drain: Many skilled Nigerians have left the country in search of better opportunities, contributing to the shortage of skilled workers.
- Lack of entrepreneurship: Limited access to finance and other resources has hindered entrepreneurship and job creation.
These statistics highlight the need for the Nigerian government and other stakeholders to implement policies and programs that address the root causes of unemployment and promote economic growth and development.
What are your thoughts on this issue? Do you have any suggestions on how to address unemployment in Nigeria?