Nigeria Records 1.3 Million Lost Jobs In Second Quarter | Independent Newspapers Limited
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Nigeria Records 1.3 Million Lost Jobs In Second Quarter

Posted: Aug 4, 2015 at 2:12 pm   /   by   /   comments (0)

It emerged Tuesday, August 4, 2015, that Nigeria’s labour market worsened in the second quarter (Q2) of 2015 as about 1, 317,700 citizens lost their jobs within the period.

A release by National Bureau of Statistics (NBS) shows that underemployed increased significantly with new hire of about 1,362,274 citizens in this category of employment during the period.

Within the same period, the number of unemployed in the labour force increased to 6,063,500, a significant 9.6 per cent from 5,533,600 recorded in first quarter (Q1), resulting in an increase in unemployment rate to 8.2 per cent in Q2, 2015 from 7.5 per cent in Q1.  This represents a third consecutive rise in the unemployment rate since third quarter 2014.

There were a total of 19.6 million people between ages 15 and 65 either unemployed or underemployed in the labour force in Q2, 2015, compared to 17.7 million in Q1 2015.

Amidst this development the NBS, in its latest labour market report, said economically active population or working age population (persons within ages 15-64) increased to 103.5 million in Q2, 2015 from 102.8 million in Q1.