Unemployment Rate Rises to 27.1%

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By James Emejo

Nigeria’s unemployment rate increased to 27.1 per cent in the second quarter of the year (Q2 2020), compared to 23.1 per cent recorded in Q3 2018, according to the National Bureau of Statistics (NBS).
The underemployment rate increased to 28.6 per cent from 20.1 per cent in Q3 2018, the NBS added.
According to the Labour Force Statistics: Abridged Labour Force Survey Under COVID-19, which was released Friday, unemployment rate among young people (15-34years) was 34.9 per cent, up from 29.7 pet cent, while the rate of underemployment for the same age group rose to 28.2 per cent from 25.7 per cent in Q3, 2018.
These rates were the highest when compared to other age groupings, the statistical agency noted.

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