\n
Nigeria\u2019s unemployment rate increased by 0.1 per cent to 4.2 per cent in the second quarter from 4.1 per cent in Q1 2023.<\/p>\n
The National Bureau of Statistics latest report on Nigeria Labour Survey Force Q2 2023 disclosed.<\/p>\n
According to NBS the employment-to-population ratio was 77.1 per cent in Q2 2023 and the combined rate of unemployment, time-related underemployment as a share of the labour force population, stood at 15.5 per cent in the period under review.<\/p>\n
It noted that the unemployment rate among youth aged (15-24 years) in Q2 2023 increased to 7.2 per cent from 6.9 per cent in Q1 2023.<\/p>\n
The data further showed that most workers in Nigeria, around 88.0 per cent were in self-employment in Q2 2023.<\/p>\n
Meanwhile, only 12 per cent proportion of workers are in Wage Employment in the period under study.<\/p>\n
In perspective, the informal employment rate in Q2 2023 stood at 92.7 per cent.<\/p>\n
The report added that the Unemployment rate in urban areas increased to 5.9 per cent in Q2 2023 from 5.4 per cent in the previous quarter.<\/p>\n
\u201cThe unemployment rate in Q2 2023 was 4.2 per cent, this is an increase of 0.1 per cent from the figure recorded in Q1 2023 (4.1 per cent).<\/p>\n
\u201cThe labour force participation rate among the working-age population remained high at 80.4 per cent in Q2 2023.The employment-to-population ratio was 77.1 per cent in Q2 2023.The combined rate of unemployment and time-related underemployment as a share of the labour force population (LU2) was 15.5 per cent in Q2 2023.<\/p>\n
\u201cThe rate of unemployment among persons with post-secondary education was 8 per cent in Q2 2023.The Unemployment rate among youth aged (15-24 years) in Q2 2023 was 7.2 per cent having been at 6.9 per cent in Q1 2023.<\/p>\n
\u201cThe Unemployment rate in urban areas was 5.9 per cent in Q2 2023, an increase from 5.4 per cent in Q1 2023.Time-related underemployment in Q2 2023 was 11.8 per cent. 8 per cent of the working-age population were in subsistence agriculture.<\/p>\n
\u201cThe Informal employment rate in Q2 2023 was 92.7 per cent. Percentage of youth Not in Employment, Education nor Training (NEET Rate) was 13.8 per cent,\u201d NBS stated.<\/p>\n
Nigeria\u2019s unemployment rate rises to 4.2 per cent in Q2 2023 \u2013 NBS<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"
Nigeria\u2019s unemployment rate increased by 0.1 per cent to 4.2 per cent in the second quarter from 4.1 per cent…<\/p>\n","protected":false},"author":1,"featured_media":8153,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4161,4784,15,7387],"tags":[519,4785,180,1505,5055],"class_list":["post-8152","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-nbs","category-news","category-nigerias-unemployment","tag-business","tag-nbs","tag-news","tag-nigerias","tag-unemployment"],"yoast_head":"\n
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