The harsh economic situation currently facing the country may have forced about 3.67 million Nigerians into the unemployment market within a one-year period covering October 2015 to September 2016, figures obtained from the National Bureau of Statistics have revealed.
According to an analysis of the unemployment report for the period, which was obtained by our correspondent in Abuja, the number of unemployed Nigerians rose from 7.51 million in the beginning of the October 2015 to 11.19 million at the end of September 2016.
The unemployment report for the fourth quarter of last year covering October to December 2016, which is still being prepared by the NBS, is due for release on March 29 based on the data release calendar of the bureau.
The report added that while the number of those employed rose from 55.21 million in the beginning of the fourth quarter to 69.47 million as of the end of September, the labour force population rose from 75.94 million to 80.66 million.
A breakdown of the 3.67 million unemployed Nigerians showed that about 522,000 people became jobless within the fourth quarter of 2015; while 1.44 million people joined the labour force in the first quarter of 2016.
For the second and third quarters of 2016, further analysis of the unemployment report of the NBS showed that about 1.16 million and 550,000 people entered the labour market in search of jobs.
The NBS report explained that unemployment rate was highest for persons in the labour force between the ages of 15-24 and 25-34, which represents the ‘youth’ population in Nigeria.
For instance, it said the unemployment rate was highest for those within the age group of 15 to 24 rising from 17.8 per cent in the beginning of the fourth quarter of 2015 to 25 per cent as of the end of September 2016.
For the 25-34 age group, the unemployment rate, according to the NBS report increased from 10.8 per cent to 15 per cent as of the end of September 2016.
It noted that unemployment and underemployment were higher for women in the third quarter of 2016.
It said while 15.9 per cent of women in the labour force were unemployed as of the end of the third quarter of 2016, 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 a further 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, 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.
Commenting on the unemployment rate in the country, the President, Institute of Productivity and Business Innovation Management, Mr. Remi Dairo, said the harsh operating environment may have been responsible for the development.
He said, “The huge number of unemployment is a reflection of the current economic realities as only few businesses are growing and employing while many others are shedding jobs.
“The lack of productive skills in both the private and public sector is one of the major reasons for the country’s underdevelopment and there is need for a comprehensive education policy that would help to address the skill gaps in the country.
“In order to close the existing gaps in skills between the extant programmes of educational institutions and the requirements in the industry, the government needs to restructure the educational system to meet the present and future needs of the country.”
The Registrar, Chartered Institute of Finance and Control of Nigeria, Mr. Godwin Eohoi, advised the government to encourage the patronage of locally produced goods to boost economic activities.
He said, “We have to look inward to boost the economy through encouragement of local content by ensuring patronage for locally made goods.
“This would help stimulate production by local industries and thus boost the GDP. Companies like Innoson Motors should be empowered by both the government and the private sector.”
He added, “The government should come up with policies that would encourage investors to set up plants in Nigeria for production rather than spending money importing all these items that are depleting our foreign exchange reserves
“The government should also reduce the interest rate to make funds available to critical sectors of the economy such as agriculture, manufacturing and others.
“Since foreign investors are shying away from investing in the country, we should look inward and encourage our local industries by reducing interest rate and making foreign exchange available to them to continue production.”
http://9jamoment.com/download-itsjaycee-think-love

So sad

They should pick themselves up and be employers of labor

Go into agriculture

Either be a farmer, seller or into agro allied

We have the market both in and outside Nigeria

following...

Which jobs?

the buhari administration has rendered over 10million people jobless both in the formal and informal sector and also killed over a million industries and upcoming ones

Nd they are happy to report it useless people

Buhari Media Centre employed most of them. Sarrki ngene vedaxcool madridguy. The pay per post BMCs

Funlordmaniac:


Which jobs?

Finally you just expised yourself with this that you are still a toddler and you ve not gotten to the stage of working to earn a living.



God forbid me ever quoting you again

I hope they voted for change at the 2015 elections.

APC! Change!

sarrki:
So sad

[s]They should pick themselves up and be employers of labor

Go into agriculture

Either be a farmer, seller or into agro allied

We have the market both in and outside Nigeria [/s]

Person never chop food you dey talk "employers of labour"

Tho I don't believe this crap of 3.6million loosing their jobs because even during GEJs era over 50% of Nigerian youths were unemployed.... Now it has skyrocketed to over 68%

For this we should give thanks to the almighty Buhari he did a great job to this end before running away to live with his colonial masters even after they have given him independence for over 56yrs now.....

sarrki:
So sad

They should pick themselves up and be employers of labor

Go into agriculture

Either be a farmer, seller or into agro allied

We have the market both in and outside Nigeria

While they are picking themselves up
Buhari will be enjoying their tax money in London while you are being paid per post by bmc to defend mediocrity on social media


There is God oo

SamuelAnyawu:



Person never chop food you dey talk "employers of labour"

Tho I don't believe this crap of 3.6million loosing their jobs because even during GEJs era over 50% of Nigerian youths were unemployed.... Now it has skyrocketed to over 68%

Just want to remind that the president is Buhari ... I know u forgot

ZombieKilla:

Afonja.... I know u must bring GEJ into it
Just want to remind that the president is Buhari ... I know u forgot

Take it easy Man I don't expect anything better than your usual Afonja name calling

SamuelAnyawu:


Take it easy Man I don't expect anything better than your usual Afonja name calling

You know I know

ZombieKilla:


Just want to remind that the president is Buhari ... I know u forgot

He made the right key so dont interupt him cox we all face same problem this time

ZombieKilla:
You know I know

#fucking loving that pics #Afonja, lolx

Yes, most people employed by farming are now jobless as herdsmen use cattle to destroy the crops, eat the plants and trample the farms and even rape women who farm in remote locations.

While buhari watches.

The situation of nigeria has becoming worstest and worstesses, God pls watch us and save us over and over again

sarrki:
So sad

They should pick themselves up and be employers of labor

Go into agriculture

Either be a farmer, seller or into agro allied

We have the market both in and outside Nigeria

you didn't blame gej today...

Kai, apc is a complete failure.

sarrki:
So sad

They should pick themselves up and be employers of labor

Go into agriculture

Either be a farmer, seller or into agro allied

We have the market both in and outside Nigeria

So easy for you to say, since you and your ilk were not affected. Pay per post Gang

sarrki:
So sad

They should pick themselves up and be employers of labor

Go into agriculture

Either be a farmer, seller or into agro allied

We have the market both in and outside Nigeria

Are you a farmer yourself?


Happy Sunday!

greatgod2012:




Are you a farmer yourself?


Happy Sunday!

Yeah my sis

Am into it fully

Resigned from one of the best multinational in the world 1n 2015

I can never be rich more than my employer, if I keep working with them.

It was very tough at the beginning

Dedication, strength, perseverance and focused mind helped out.

God will not help anyone that didn't take a step

For He's a principled God

bayelsaowei:
you didn't blame gej today...

Lol.

I will do layer in the evening

sarrki:


Yeah my sis

Am into it fully

Resigned from one of the best multinational in the world 1n 2015

I can never be rich more than my employer, if I keep working with them.

It was very tough at the beginning

Dedication, strength, perseverance and focused mind helped out.

God will not help anyone that didn't take a step

For He's a principled God

Resigned from a multinational to join a 24hour pay per post BMC crew

Chief zombie I know you are lying but continue.

sarrki:


Lol.

I will do layer in the evening

This is an old report some dude is recycling. NBS has released more recent reports after this report.