Nigeria’s unemployment rate Worsens with 23.18 million recorded in the fourth quarter of 2020.
This represents 33.3 per cent compared to 27.1 per cent in Q2, the National Bureau of Statistics (NBS) said Monday.
The implication is that 23.18 million persons of the country’s labour force either did nothing or worked for less than 20 hours a week, making them unemployed by the country’s definition of unemployment.
Also, that the economy witnessed an additional 1.42 million persons added to country’s unemployment portfolio when compared to
21.77 million unemployed persons in Q2.
However, the NBS pointed out that the underemployment rate decreased from 28.6 per cent to 22.8 per cent in the period under review.
