₦airaland Forum

As economic downturn persists, the number of unemployed and underemployed persons in Nigeria surged to 22.45 million in the fourth quarter, Q4, 2015, about 9.1percent or 1.75 million, higher than 20.7 million recorded in the third quarter. In addition, during the period a total number of persons in full time employment (that did any form of work for, at least, 40 hours) decreased by 710,693 when compared to the previous quarter.

According to the National Bureau of Statistics, NBS, unemployment is the proportion of those in the labour force (not in the entire economic active population, nor the entire Nigerian population) who were actively looking for work but could not find work for at least 20 hours during the reference period, to the total current active labour force population.
Accordingly, you are unemployed if you did absolutely nothing at all or did something but not for up to 20 hours in a week. Underemployment, according to NBS, occurs if you work less than full time hours, which is 40 hours in a week, but work at least 20 hours on average a week and /or if you work full time but are engaged in an activity that underutilises your skills, time and educational qualifications.

The development in the labour sector reflects the landmark declines recorded in key economic indices since last year, with the gross domestic product, GDP, on steady decline hitting a three-year low of 2.1 percent in Q4,2015 while a steady inflationary pressure had pushed the headline rate to 11.4 percent in February. In its employment report yesterday, NBS also stated that the economically-active population or working age population (persons within ages 15 and 64) has increased to 105.02 million in Q4 2015, from 104.3 million in Q3 2015, representing a 0.68 percent increase over the previous quarter and a 3.2 percent increase, when compared to Q4 2014.

The report also said that in Q4 2015, the labour force population (those within the working age population willing, able and actively looking for work) increased to 76.96 million from 75.94 million in Q3 2015, representing an increase of 1.34 percent in the labour force, during the period. This means 1.02 million persons in the economically-active population entered the labour force, and NBS stated that this increase was the highest quarterly jump in the labour force population in 2015.
According to the report, the number of underemployed in the labour force (those working but doing menial jobs not commensurate with their qualifications or those not engaged in full time work and merely working for few hours) increased by 1.21 million or 9.16 per cent, resulting in an increase in the underemployment rate to 18.7 percent or 14.42 million persons in Q4 2015, from 17.4 percent or 13.2 million in Q3 2015. During the same period, the number of unemployed in the labour force, increased by 518,102 persons, resulting in an increase in the national unemployment rate to 10.4 percent in Q4 2015 from 9.9 percent in Q3 2015.

Read more at: http://www.vanguardngr.com/2016/03/22-45m-nigerians-unemployed-job-loss-hits-710693/

When you add me, my friends and the numerous unemployed APC/Buhari defenders roaming every threads of nairaland,

the number of unemployed will be 22.99m.

Right now, we have no evidence that the economy would not collapse.
The fact is that the government limit Igbo’s the creators of private business and limits the economy to grow.
You block Igbo businesses activities, you shut down the engine economic activities of the Nation.

Imagine where we would have been if those skilled young men in Aba and Nnewi had received government patronage and support.

Fourth quarter tells you it all got worst in this regime. Some are just created to be cattle rearers and never to be an administrator. Buhari is one of them, he reasons like cow and doesn't care if all of us die due to his bad policies. Even all the mods here have confirmed he is a dullar.d. Just write dollar.d correctly, they will change it to buhari.

APC was a big error.

i laugh in arabic

Finally he has called for an economic summit. Let us hope people give this government good economic plans that will take us out of the woods .
I am not a buharist or an APC supporter but the truth is that if things go bad,it affects us all. My elder brother who is a civil servant in owerri is already going through tough times. So I pray this administration either gets its acts right or just stabilize the economy. @least till 2019. People are suffering

luvinhubby:
APC was a big error.

like you voted for apc ?

I wonder what APC and that dura dullard would degenerate Nigeria to before 2019. They have not spent upto a year in power and they have already started destroying the country .

Where are those nomads that trekked for Buhari?

Time to trek back in protest

One chance govt

nnachukz:
Fourth quarter tells you it all got worst in this regime. Some are just created to be cattle rearers and never to be an administrator. Buhari is one of them, he reasons like cow and doesn't care if all of us die due to his bad policies. Even all the mods here have confirmed he his a dullar.d. Just write dollar.d correctly, they will change it to buhari.

g uy why you wicked like this? ....na hausa/yoruba president you they yab like this?

TANTUMERGO007:
like you voted for apc ?

Even for dream, i dare not.

Sai change

Sai terrorist chief baboon

One zooo

Congratulations Buhari

Buhari has hurriedly appointed himself as Petroleum Minister.

So long as oil proceeds trickle down the coffers of Nigeria, Buhari feels safe, all is well.

All that matters to Buhari most is how to sustain Nigeria with a fraudulent political structure and governing system that favours only the nomadic mallams from Buhari's far northern Nigeria.

mile12crises:
When you add me, my friends and the numerous unemployed APC/Buhari defenders roaming every threads of nairaland,

the number of unemployed will be 22.99m.

Right now, we have no evidence that the economy would not collapse.
The fact is that the government limit Igbo’s the creators of private business and limits the economy to grow.
You block Igbo businesses activities, you shut down the engine economic activities of the Nation.

Imagine where we would have been if those skilled young men in Aba and Nnewi had received government patronage and support.

Beremx d APC godmother is a nurse...
Some APC agents on nairaland are paid per post...

And 50m continue doing the shi.t job with shi.t pay just because they want to survive.

crixtex:
Beremx d APC godmother is a nurse...
Some APC agents on nairaland are paid per post...

You mean night nurse

By the way i no call anybody name

mile12crises:
You mean night nurse

By the way i no call anybody name

lolssss...

Gosh!