About 28.58 million Nigerians became either unemployed or underemployed as at the last quarter of 2016, the National Bureau of Statistics (NBS) has disclosed.
In its “Unemployment/Under-employment Report for 4th Quarter of 2016’’ report released yesterday, the NBS indicates that about 5. 5 million people became unemployed within the past two years while the number of unemployed persons increased from 27.12 million or 13.9 per cent in the 3rd quarter of 2016, to 28.58 million persons or 14.2 per cent in the 4th quarter of 2016.
Thus, 351,015 Nigerians became unemployed in the last quarter of 2016.
Underemployment is defined as the condition in which people in a labour force are employed at less than full-time or regular jobs or at jobs that are inadequate for their qualification and experience level and such persons still tend to be job-seekers hoping for better wages.
“In Q4 2016, the labour force population (i.e. those within the working age population willing, able and actively looking for work) increased to 81.15 million from 80.67 million in Q3 2016,representing an increase of 0.6% in the labour force during the quarter”.
“This means about 482,689 persons from the economically active population entered the labour force during the quarter.
“During the reference period, the number of unemployed in the labour force, increased by 351,015persons, resulting in an increase in the national unemployment rate to 14.2% in Q4 2016, slightly up from 13.9% in Q3,13.3% in Q2, 12.1% in Q1 2016,and 10.4% in Q4 2015?.
The NBS noted that the youth population of people in the 15 – 34 years age bracket that represents any country’s most economically productive population contends with the worst impact of unemployment and underemployment in Nigeria.
The underemployment rate for the group increased to 36.5 per cent in 4th quarter of 2016.