THE National Bureau of Statistics (NBS), has given conflicting figures on the unemployment rate in Nigeria. In its highlight of the latest report, the organisation said the unemployment rate has fallen to 4.1, translating to 8.2 million Nigerians who are unemployed based on the estimated 200 million population.

The report, covering the fourth quarter of 2022, revealed that 5.3 per cent of the population, equivalent to 10.6 million Nigerians, were unemployed during that period. The data showed a significant drop by over two million.

However, the Bureau disclosed another figure totally deviating from the unemployment statistics highlighted on the summary page of its report. It reported that 4.1 per cent, estimated to 8.2 million, are unemployed for the fourth quarter of 2022 while in Q1 2023, 3.3 per cent, which is 6.6m Nigerians are unemployed.

The ICIR calculated the figures to show the contradiction by adding the labour force, unemployed rate and out-of-labour force.

In its summary page, labour force for Q4 2022 (73.6 per cent) when added to the unemployed rate (5.3 percent) and out of labour (22.3 per cent) amounts to 101.2 per cent.

Similarly, for Q1 2023, when the labor force (76.7 per cent), the unemployed rate (4.1 per cent ), and those out of the labor force (21.1 per cent) are added, the sum equals 100.9%.

While in another sheet, the NBS data for Q4 2022’s Labour force (73.6 per cent), unemployed (4.1 per cent) and out of labour (22.3) sum equals 100 per cent.

In the case of Q1 2023, when we add the labor force rate (76.7 per cent), a 3.3% unemployed rate, and the out-of-labour force rate (20.1 per cent), the sum reaches 100.1 per cent.

READ MORE HERE: https://www.icirnigeria.org/nbs-releases-conflicting-unemployment-rate-figures/