The harsh economic situation in the country has thrown 1.7 million Nigerians into the job market in nine months, a report from the National Bureau of Statistics has indicated.

The unemployment report, which was obtained on Friday, covered January to September this year.

Specifically, the report showed that the number of unemployed Nigerians rose from 9.48 million at the beginning of the year to 11.19 million by September ending.

The report also indicated that while the number of those employed rose marginally from 69 million at the beginning of the year to 69.47 million by September ending, the labour force population rose by 2.18 million from 78.48 million to 80.66 million.

The report said that unemployment was highest for persons in the labour force between the ages of 15-24 and 25-34, representing the youth population in the labour force.

For instance, it said the unemployment rate was highest for those within the ages of 15 to 24, rising from 21.5 per cent in the beginning of the year to 25 per cent as of September ending this year.

For the 25 to 34 age group, the unemployment rate, according to the NBS report, increased from 12.9 per cent at the beginning of the year to 15 per cent as of the end of September.

It noted that unemployment and underemployment were higher for women than men in the third quarter of 2016.

For instance, it said while 15.9 per cent of women in the labour force were unemployed as of the third quarter ending this year, a further 22.9 per cent of women in the labour force were underemployed during the period.

On the other hand, the report said 12 per cent of males were unemployed in the third quarter of 2016, while 16.7 per cent of males in the labour force were underemployed during the same period.

“Given that the nature of rural jobs is largely menial and unskilled, such as in agriculture and the likes, unemployment is more of a concern in urban areas where more skilled labour is required.

“The unemployment rate in the urban areas was 18.3 per cent compared to 11.8 per cent in the rural areas, as the preference is more for formal white collar jobs, which are located mostly in urban centres,” the report said.

Meanwhile, financial experts have warned that the huge preference for imported items by many Nigerians, if left unchecked, could worsen the unemployment situation.

The Acting Director, Trade and Exchange Department, Central Bank of Nigeria, Mr. Woritka Gotring, said the problem could be better managed with the patronage of made in Nigerian products.

He said the resilience of the informal sector was what had been reducing the impact of the economic crisis on Nigerians.

Gotring said if not for the resilience shown by the informal sector where a lot of people were engaged in various economic activities, it would have been very difficult to manage the economic crisis.

He said despite the fact that a lot of people in the informal sector were employed in one form of economic activity or the other, the infrastructure gap in the country was limiting the potential of the sector.

In order to enable the country to conserve its foreign exchange, he called for policy consistency that would encourage capital flows and promote local production, fiscal discipline, enhancement of local manufacturing capacity and import substitution.

Gotring said, “Foreign exchange rate is one of the most important means through which a country’s relative level of economic health is determined.

“The slump in global oil prices has hit Nigeria hard plunging the country into recession. It is evident that the economy is going through tough times with a decline in inflows and continuous demand pressure on foreign exchange arising from high import bill.”

Also, the President, Abuja Chamber of Commerce and Industry, Mr Tony Ejinkeonye, called for an aggressive diversification of the economy to reverse the unemployment situation in the country.

He said aggressive diversification of the economy through agriculture and solid minerals was vital as it would help to create more jobs for the people and reduce the level of poverty in the country.

http://investorsking.com/1-7-million-nigerians-became-jobless-in-nine-months-nbs/

More like "1.7 Million Nigerians Became Jobless" under BUHARI-
Interestingly, some of them voted for CHANGE


modified :
FTC on a Christmas day.
A sign of better days ahead.

Dedicated to Nnamdi Kanu! Your struggle will never be in vain.
The sun shall sure rise. ..AGAIN!

And the brainless still insist the geriatric dulllard knows what he's doing

Abeg, merry christimas to my christian friends!

pls lets talk ds mid next year, merry xmas and happy new year in advance. am already tired of nigeria news. y -ve - ve always?

it's more than that my friend!

in my place of work almost 200 persons were dropped

Merry Christmas

Buhari sef!

We told them not to vote this scam government.
What about the masquarede job lai Mohammed promise?
3million jobs the vice president promise during campaign.
They secretly employ their relatives into CBN,FIRS,FAAN and make Police recruitment public.
When they came in,dollar was 268 but now 485.
Soldiers are lamenting daily for improper treatment.
Food meant for idp camps are been diverted.
Fuel from 87 to 145.
Fake ogoniland clean up promise.
Till now,bubu is yet to produce his certificate and he his fighting corruption.
All his ministers have one case or the other related to corruption,but since they are APC,they cant be touched.
Continuous epileptic power supply.
Budget padding is their way of life.
2019 will soon be here,use your brain,vote wisely if you are to vote,dont collect 1 bag of rice that will jeopardize your future.
A good government should always be ready to attend to welfare of her citizen,and not use DSS to harass or intimidate them when they express their mind.


ASK YOURSELF THIS QUESTION,WHAT HAS CHANGE?

The funniest part is,some zombies will still defend this government despite them not having a job,not knowing what their next meal will be.

chanji for you.

Buhari is the best president (don't attack me oh I am a wailer)

But how come 2019 seems like forever

I tire for this kwantiri......







Op can u see me


Merry xmas niggas/niggresses

Sai BaBa.
REDEEMED CHRISTIAN CHURCH PASTORS should go and seek for God's forgiveness, because Nigerians have not forgotten their roles in the last election.

Especially the ones in Lagos

Evil...

Buhari is this the three million jobs u promised during campaign? History is a good teacher and I believe Nigerians have learnt their bitter lessons by voting someone who is incapacitated in the brain.

I am sorry to say, it seems as if President Buhari is an economy terrorist to Nigeria.
Can you imagine, 1.7 millions lost their legitimate jobs in just nine months and not to talk about those that lost their jobs between June - December, 2015.
If we talk now, some useless blind supporters of the biggest scam administration will be talking of 10,000 police jobs and 200,000 palliative jobs (N-power).
They promised to create jobs but rather they are destroying legitimate jobs.
At the moment, President BUHARI is they greatest threat against our survival and sovereignty as a nation.
As it is now, for every 10,000 jobs create by this Buhari administration, there are lost of 100,000 legitimate jobs elsewhere. It seems that Buhari administration is cursed.

Chainji

...

recievesense:
Buhari is the best president (don't attack me oh I am a wailer)

Can u see me

Buhari is a destroyer
God punish the tyrant

join d 3million jobless once wey done already day

Rilwayne001:
But how come 2019 seems like forever

I bet my left yaaanshhh
You Yoruba Muslims will still vote Buhari
Quote me anywhere

It will never last forever. It shall come to pass In-Sha Allah.

Even though I am still searching, I haven't lose hope.

Out of that 1.7million Nigerians, I'm sure, 70percent of them resigned from their places of work so as to concentrate well on mmm.

Pathetic.

recievesense:
Buhari is the best president (don't attack me oh I am a wailer)

EVILFOREST:
Sai BaBa.
REDEEMED CHRISTIAN CHURCH PASTORS should go and seek for God's forgiveness, because Nigerians have not forgotten their roles in the last election.

Especially the ones in Lagos

Most of these churches are business ventures
No difference between their founders and dangote, they all ride in private jets for starters

Dis govt is d greatest scam of dis millenium, planless, senseless, clueless, and very unforthcoming...but it's a lesson Nigerians have choosen to learn d hardest of ways.

Numbers crunch