August 24, 2017

Unemployment on the rise

Unemployment on the rise

Moves by federal and state governments to reduce the rate of unemployment appears not to be yielding results, as the number of unemployed persons in the country rose by 861,110 in the first quarter of this year.

This represents a 7.5 per cent compared to 6.4 per cent unemployed rate in the last quarter of last year.

BillionaireJackpot

In the quarter under review, the labour market increased to 73.4 million from the 72.9 million mark in Q4 of 2014, representing an increase of 0.69 per cent.

This implies that 504,596 economically active persons within 15-64 years entered the labour market or were actively looking for work between January 1 and March 31, 2015.

The figure was contained in the Unemployment/ Under-Employment Watch published by the National Bureau of Statistics, NBS, at the weekend for the three-month period ended March 31, 2015.

The report indicated that during the quarter, the total number in full employment (did something for at least 40hours) increased by 0.88 per cent while the underemployed during the review quarter declined by 6.46 per cent, resulting in a reduction in the underemployment rate to 16.6 per cent (or 12.2 million) from 17.9 per cent (13.1 million) in the preceding quarter. Read more

READ  Why do Nigerians like to “borrow-borrow”? By Viola Okolie

 

Follow us @sabinewsnaija

 

photo credit

Radi8
InnJoo Reborn

Comments

comments

Related posts

Share your thoughts.

Loading Facebook Comments ...

Leave a Reply

Your email address will not be published. Required fields are marked *