₦airaland Forum

The National Bureau of Statistics (NBS) yesterday announced a new unemployment rate of 6.4 per cent for the fourth quarter of 2014, following the outcome of its revised methodology and definition of the statistics in the country.


This is down from the 23.9 per cent recorded in 2011, using the former methodology.

The bureau announced a reduction in Nigeria’s official work hour benchmark from the 40 used previously to 20 hours a week.

By this new definition, anyone who worked for less than 20 hours a week under reference would be considered unemployed while anyone who worked for between 20 to 39 hours is considered underemployed.

The agency, in September 2014, inaugurated a committee of experts and stakeholders to assess the current definition of unemployment in the context of Nigeria, and recommend a new appropriate definition for computing unemployment rate and other labour related indicators in the country to ensure that it is in line with internationally agreed standards as well as satisfying our local conditions.

On the completion of the assessment, the committee headed by a professor of development economics in the Department of Economics, University of Abuja, Professor Sarah Anyanwu, among others recommended that the sample size for unemployment data collection be increased from 1,000 households per state to 2,000 households or more.

Speaking during the presentation of the revised definition and methodology for computing unemployment statistics in Nigeria, the Statistician General of the Federation (SGF), Dr Yemi Kale, said the review was to align the country more with international trends to make comparability easier.

According to him, there is a difference between being unemployed and not having a job as one is only employed if one falls within the accepted working age of 15 and 64 years (ie the economically active population) and are looking for work but cannot find any work at all.

“So the employment or unemployment rate is of the labour force which in itself is a subset of the economically active population. When you remove all those between 0 to 15 years and all those above 65 years. Then you have the economically active population,” he said.

Source:http://nairausd..com/2015/05/unemployment-rate-now-64-as-nbs-revises.html

Seriuosely.

Lies. The same organization which carried out a useless research in 2012 and said there were 24,000 businesses in Nigeria, when in fact there are over 100,000 businesses in Lagos alone. Rubbish statistics, they just sit in their offices writing figures.

socialmediaman:
Lies. The same organization which carried out a useless research in 2012 and said there were 24,000 businesses in Nigeria, when in fact there are over 100,000 businesses in Lagos alone. Rubbish statistics, they just sit in their offices writing figures.

My bro mesef de surprise oohhhhh.

But there no other reliable organisation that give credible information,

You know

Lies!

Believe this rubbish and believe anything.

Is NBS telling us that in every 100 persons, only six are unemployed? We all know that the true figure is way above this.

Anyway, it is the same way rebasing our economy resulted in Nigeria being the largest economy in Africa with no developmental evidence or good standard of living to show for it.

All hail GEJ. If you don't believe this news tell me why you should believe nigeria is the most corrupt country in the world

liberty300:
All hail GEJ. If you don't believe this news tell me why you should believe nigeria is the most corrupt country in the world

My bro are you living in reality.

You know

i dont believe this. There are more nairaland members booking space now than before. That shows there is more unemployment now than before.

mekaboy:
i dont believe this. There are more nairaland members booking space now than before. That shows there is more unemployment now than before.

Laughing but my guy you no well.

You know

This is the problem with our policy makers. They see a problem, and instead of confronting and fixing it, they rather go to town looking for the darkest shades to put over eyes so they don't see it anymore!! Who the hell does that How does believing a problem no longer exist solve the problem??

In their heart of hearts, can they even believe a bit of this figure?? Are they trying to say only about 7 out of every hundred Nigerians are unemployed??

Haba. This is simply ridiculous.

omenka:
This is the problem with our policy makers. They see a problem, and instead of confronting and fixing it, they rather go to town looking for the darkest shades to put over eyes so they don't see it anymore!! Who the hell does that How does believing a problem no longer exist solve the problem??

In their heart of hearts, can they even believe a bit of this figure?? Are they trying to say only about 7 out of every hundred Nigerians are unemployed??

Haba. This is simply ridiculous.

Don't tell you don't know obodo naija.

Anyway big welcome.

..LIES

Ghana-must-go statistics!

This Government sef na waa o! The hand of corruption no even spare research! Lies everywhere.

Nigeria for everyone.

You know. ....

Yet you have countless friends and family members seeking assistance as per job placement.
Even the one wey person get younhope to get something way better.

6.4% ko useless % ni

Government of lies and deceit, always coming out with juju statistics

Lie of the century from a clueless government! !!

http://nairausd..com/2015/05/finance-ministry-explains-oil-marketers.html?m=1

The Ministry of Finance has reacted to the claim by the oil marketers association that it is still being owed by the federal government.

Iro nla!

OduaVanguard:
Iro nla!

Meaning

ifyan:
Meaning

Big a$$ (or fat booty ) lie.

You sure because l no una as our FG be professionally for that part.

Employment not full or gainful employment. The NBS is right.

Sweetguy25:
Employment not full or gainful employment. The NBS is right.

Explain for easy understanding.