Number of unemployed in the labour force increased by 555,311 persons.

The National Bureau of Statistics (NBS) says the country’s unemployment rate has risen from 13.3 per cent in the second quarter to 13.9 per cent in the third quarter of 2016.

This is according to the Unemployment/Under-employment Report for 3rd Quarter of 2016, released by the NBS on Friday in Abuja.

The report stated that the number of unemployed in the labour force increased by 555,311 persons.

According to the report, the underemployment rate rose from 19.3 per cent in second quarter to 19.7 per cent in the third quarter.

The report stated that unemployment covered persons (aged 15–64) who, during the reference period, were currently available for work, actively seeking for work but were without work.

Underemployment, however, occurs when a person works less than full time hours, which is 40 hours, but work at least 20 hours on average a week.

It explained that underemployment could also happen if a person works full time but are engaged in an activity that underutilises his skills, time and educational qualifications.

The report, however, stated that the economically active population or working age population (persons within ages 15 and 64) increased from 106.69 million in second quarter to 108.03 million in the third quarter.

“This represents a 1.26 per cent increase over the previous quarter and a 3.57 per cent increase when compared to the third quarter 2015.’’

In 3rd quarter, the labour force population (i.e those within the working age population willing, able and actively looking for work) increased to 80.67 million from 79.9 million in second quarter.

“This represents an increase of 0.98 per cent in the labour force during the quarter.

“This means about 782,886 persons from the economically active population entered the labour force, that is individuals that were able, willing and actively looking for work.

“This magnitude of increase between second and third quarter is smaller when compared to first and second quarter, which was an increase of 1.39 million in the labour force population.

“Within the reference period, the total number of persons in full time employment (who did any form of work for at least 40 hours) decreased by 272,499 or 0.51 per cent.

“This figure decreased when compared to the previous quarter, and decreased by 1.66 million or 3.01 per cent when compared to third quarter of 2015.’’

The report stated that with an economically active or working age population (108.03 million) and labour force population (80.67 million), 27.36million persons within the economically active or working age population decided not to work.

It said that the population decided not to work for one reason or the other in the third quarter, hence they were not part of the labour force and could not be considered unemployed.

According to the report, there is eight consecutive rise in the unemployment rate since 4th quarter of 2014. (NAN)

Read more at http://www.dailytrust.com.ng/news/business/unemployment-rises-to-14-half-million-fresh-out-of-work-nbs/176328.html#xX55YhzgHZbqfP5j.99

14% na even the suppressed one them give us those way read economics go know

this is getting too high..

more unemployed..more criminal activities..

spain has 22%...the ol world is messed up...

Pathetic

this is trouble,big time..

people will start seeing ak47ns as a certificate again...


ohhhhhh myyyyyy...

OZAOEKPE:
14% na even the suppressed one them give us those way read economics go know

whatever...others love-vendor their numbers too in a democratie...

europe or america is not better...

Beremx, please come and enlighten us on how buhari's body odor would create 50million job opportunities in one month.


Thanks.

darknetcom:


whatever...others love-vendor their numbers too in a democratie...

europe or america is not better...

Really? Tell me more.





****

Apparently, only few nairalanders appreciate sarcasm.

And the scam govt is running one aimless scheme called Npower! Yeye

"Nigeria is the largest economy in Africa"......... Nigerians don't feel the impact.Unemployment at its highest level.
" FAAC just allocated over 300 billion naira for the month of November"......... Again it doesn't have impact on nigerians.most people living under the poverty line.
"Nigeria govt budgeted over 7trillion naira for 2017"...... As usual, zero impact on the lives of the ordinary citizens.
"Nigeria recovered about 1 trillion from the looters "..... Just like before, no action no traction.

Oh My God. This is serious magana

God help us

JonSnow:




Really? Tell me more.

well..bros...well


..

am not in the mode to write a book..
you will have to find out yourself the hard way...

time is precious..

enjoy...

zakim:
Number of unemployed in the labour force increased by 555,311 persons.

The National Bureau of Statistics (NBS) says the country’s unemployment rate has risen from 13.3 per cent in the second quarter to 13.9 per cent in the third quarter of 2016.

This is according to the Unemployment/Under-employment Report for 3rd Quarter of 2016, released by the NBS on Friday in Abuja.

The report stated that the number of unemployed in the labour force increased by 555,311 persons.

According to the report, the underemployment rate rose from 19.3 per cent in second quarter to 19.7 per cent in the third quarter.

The report stated that unemployment covered persons (aged 15–64) who, during the reference period, were currently available for work, actively seeking for work but were without work.

Underemployment, however, occurs when a person works less than full time hours, which is 40 hours, but work at least 20 hours on average a week.

It explained that underemployment could also happen if a person works full time but are engaged in an activity that underutilises his skills, time and educational qualifications.

The report, however, stated that the economically active population or working age population (persons within ages 15 and 64) increased from 106.69 million in second quarter to 108.03 million in the third quarter.

“This represents a 1.26 per cent increase over the previous quarter and a 3.57 per cent increase when compared to the third quarter 2015.’’

In 3rd quarter, the labour force population (i.e those within the working age population willing, able and actively looking for work) increased to 80.67 million from 79.9 million in second quarter.

“This represents an increase of 0.98 per cent in the labour force during the quarter.

“This means about 782,886 persons from the economically active population entered the labour force, that is individuals that were able, willing and actively looking for work.

“This magnitude of increase between second and third quarter is smaller when compared to first and second quarter, which was an increase of 1.39 million in the labour force population.

“Within the reference period, the total number of persons in full time employment (who did any form of work for at least 40 hours) decreased by 272,499 or 0.51 per cent.

“This figure decreased when compared to the previous quarter, and decreased by 1.66 million or 3.01 per cent when compared to third quarter of 2015.’’

The report stated that with an economically active or working age population (108.03 million) and labour force population (80.67 million), 27.36million persons within the economically active or working age population decided not to work.

It said that the population decided not to work for one reason or the other in the third quarter, hence they were not part of the labour force and could not be considered unemployed.

According to the report, there is eight consecutive rise in the unemployment rate since 4th quarter of 2014. (NAN)

Read more at http://www.dailytrust.com.ng/news/business/unemployment-rises-to-14-half-million-fresh-out-of-work-nbs/176328.html#xX55YhzgHZbqfP5j.99

What is CBN and Ministry of finance doing. Huh?

Am really getting fed up with this government

But I thought the police made a recruitment of 10,000 people and npower boosts one of over 200,000 how manage it's still this high

Or is there something some persons are not telling us

...

One of the problems with Nigeria is lack of accurate datas
How would anyone say unemployment is 15 %
Even the employment rate is not up to that

It's only gonna get worse for sure, but we all know the percentage is more than sha

Yeah, Happy birthday Bubu

if unemployment rate in Nigeria is anything less than 45% then it's a miracle.

Mathematically speaking, 14 percent of 150million people is about 21 million.
Basically, these people are telling us that only 21 million people in Nigeria are unemployed??

Loooool!!!

Its their faults,

I don't pity them any longer, anybody that's jobless should have his/herself to blame,

they are among those that campaigned for APC and Buhari,

they were in their offices while insulting Jonathan and his Government and they voted in Buhari,

everyone should enjoy the vote and stop complaining

Tell me about MMM only.

Direct result of APC fake change!

Mubarak55:
Am really getting fed up with this government

You never start sef

And some person's here still have the courage to send birthday wishes to the DULLARD president.

Buhari is toxic to Nigerians

fix the electricity problems and jobs will start coming to Nigeria Many businesses or companies cannot make a profit or stay afloat because the costs of using or maintaining diesel or any generators are expensive. Providing electricity 24 hours is not an easy task but FG can start somewhere by providing at least 12 hours a day of electricity. Till then do not expect improvement.