Unemployment rate worsens :1.3m lost jobs in Q2 -National Bureau of Statistics

There are indications that the country’s labour market has taken a major hit with worsening unemployment recorded in the second quarter (Q2) of 2015. About 1, 317,700 Nigerians lost their jobs within the period.

On the other hand, the number of underemployed increased significantly with new hire of about 1,362,274 citizens in this category of employment during the period.

Within the same period, the number of unemployed in the labour force increased to 6,063,500, a significant 9.6 per cent from 5,533,600 recorded in first quarter (Q1), resulting in an increase in unemployment rate to 8.2 per cent in Q2, 2015 from 7.5 per cent in Q1. This represents a third consecutive rise in the unemployment rate since third quarter 2014.

Accordingly, there were a total of 19.6 million people between ages 15 and 65 either unemployed or underemployed in the labour force in Q2, 2015, compared to 17.7 million in Q1 2015.

Amidst this development, National Bureau of Statistics (NBS), in its latest labour market report, said economically active population or working age population (persons within ages 15-64) increased to 103.5 million in Q2, 2015 from 102.8 million in Q1.



Also, the report shows that in Q2, 2015, the labour force population (those within the working age population willing, able and actively looking for work) increased to 74 million from 73.4 million in Q1 2015, representing an increase of 0.81per cent. This means 574,498 economically active persons within ages 15 and 64 entered the labour force within the period.

According to NBS, the drop in the number of full employment (those working less than 40 hours per week) despite a rise in the labour force can be attributed more to job losses or previously fully employed persons choosing or being forced to work part time or in underemployment.

The NBS report also indicated that unemployment and underemployment was higher for women than men in Q2 2015.

- Source:http://jobtrends.com.ng/unemployment-rate-worsens-1-3m-lost-jobs-in-q2-national-bureau-of-statistics/

Really bad. It is nt peculiar to Nigeria. It is a global issue. Call it end time things if u want.Multinationals are also laying off workers.Jobs are now hard to come by in Europe and America.

This is when we need to develop d real sectors of d economy.The govt should roll out policies that will favour the manufacturing and Agricultural sectors. These sectors have d potential of massive jobs creation.

God help Nigeria.

Lalasticlala come and c 4 urself.

Na wa oh! So the people wey go collect #5000 unemployment money don dey increase? Hope government go fit carry all along

How do they get the figures. Which number me I be sef. . . underemployed.

These figures are alarming. What's being done to contain it? Are the youths or graduates being empowered to go into self employment, since there are no forthcoming jobs?

Hmmmm

Ehyaa.. that's why I rep self employment to the core. It will take time to build. But its built to last. No guile , no stress , no fears of being sack. If God be with you, you will end up employing them graduates. I went to a friend's office. This guy has been a federal civil servant for like 14 years straight now, his salary is way beyond mouth watering and you know what , he is resigning next year. In fact currently he is running multiple fish farms and maize production. He recently opened a factory with outstanding scenario with full equipments for fish hatchery and egg production. This guy is so made that he doesn't care about his work anymore. The moment we in Nigeria discover that our country is a land of opportunity the better for us all..

Such a huge number. PMB is the man. I Hail you. You've tried

Eyah... God dey

God will create a way where seems to be no way for everyone looking for Job this Year.
ARISE AND SHINE.
Can I hear your big Amen by clicking Like?

Oya shout buhari make I see

Hmmmmm...If the figure is this high... i suspect, some nairalanders wailing wailers are also among.

when Baba told Niagran living in BEnin not to rush home/manage there till situation get beta here,some clueless one are busy calling him name .GOD bless PMB NaIja,E go beta

And Nobody Is Protesting,,, NLC is sleeping... I guess those who lost their jobs already have an alternative,,,,,

Team start something independent,, don't depend on white collar job.. They could become black collar when you least expect... ##Farming is the future,,#be ya own boss

Some few months ago (just before the election). I came up with the below thread and while the wise learned from it, the fooolish ones condemned me.

THINGS YOU SHOULD KNOW BEFORE FEBRUARY 14.


* POWER : The power situation of the country will NEVER improve if this government remains in power as the money bags supporting this government are the sole importers of fuel and diesel and the make billions of naira in profit everyday by gaining from the epileptic power situation of the country.

* SECURITY : Billions are budgeted for security but yet nothing to show for it especially in the North East of the country. Jonathan has politicized the military and made it equally Corrupt. The military, police, sss only flex their powers at the opposition and harmless citizens.

*YOUTH EMPOWERMENT : Sure P and the like are money siphoners the government setup to siphon money. Those who needed to benefit from it aren't as every penny is being embezzled by the same government.

*TRANSPORTATION: Before you that pointing at the railways which is Jonathan's ONLY achievement, ask yourself if that is the same kind of coaches us in this present day world. Brazil, Czech, Venezuela, Mexico and others just resuscitated their rail transport and each country spent FARLESS than what our government claimed to have spent and with a more modernized end product.

* ECONOMY : Nigeria's economy is SINKING SERIOUSLY. Whether you believe Charles Soludo, Sanusi Lamido, and other economist or not, the truth remains that an economy tsunami is about to take place in the coming months. Over 30% of government workers, banks, oil and gas, Marin, insurance, fund managers, manufacturing will be out of job in the next few months. Ngozi Iweala and others can twist figures and refute the truth as much as they can but the truth is about to unviel itself soon.

https://www.nairaland.com/2126250/facts-should-know-before-february


NOTE: THE ECONOMY HAS SERIOUSLY BEEN DESTROYED BEFORE BUHARI TOOK OVER AND WILL NEED NOTHING EARLIER THAN ONE YEAR TO STABILIZE THINGS FOR PEOPLE TO BEGIN TO SEE REAL CHANGES.

PMB will surely address the situation.

statistics don't mean jack when it comes to issues like this in naija. Try to be your own boss if u can

this is becoming increasingly alarming o.. now that even the first Lady of the federal republic is complaining about the ever dwindling of female law makers in the country http://yesreport..nl/2015/08/decline-in-elected-female-lawmakers.html?m=0 and people are loosing their jobs like child's play.

May God feed and take care of their families Amen

Most of these figures result from the TAN employees who lost their jobs after JonaTAN's resounding defeat. I think they were 12million of them, judging from the signatures collected by Ifeanyi Uba, so we expect the figure to rise as PDP clearly
stated its resolve to cut salaries and jobs. Some Wailers on the forum would be affected too.

A little fraction comes from banks and industries. But many have also been gainfully employed in the same period under review.

To dose affected,just know that Where one door closes another opens...dts d norm so don't give up...

Simple math

1,362,274 (New Hire) - 1, 317,700 (Sacked) = 44,574 increase in the employed

[size=14pt]This is a good development[/size]

The govt should do something about this.
A nation with this much youth unemployment is not safe at all.
More miscreants available for dirty jobs.

Hmm....

change

With PMB,no shaking....he will fix everything,I believe 100%!

Omenka, most of your input on this forum are usually devoid of any intelligence, in whatever form. The rate of unemployment is not a phenomenon that happened with Jonathan's government, or TAN for that matter. I appended my signature on a paper for a TAN rally that came to town, does that mean am unemployed? Do you know the calibre of boys and girls, men and women that signed those books? People that are living well off. I am certain most of those people are doing much, much better than you. So, if we are to categorise people under unemployment or underemployment, you should be top of the list.

That being said, the country has a new sherrif. The sensible thing for the PDP now is to lay off workers and cut costs. They cannot afford to pay all their workers anymore. But these workers are also Nigerians, and as the new sherrif in town, the president must also provide jobs for them, as he must also do for Nigerians as a whole.

The best way out to unemployment issues is entrepreneurship.

Others should be added unto it.