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Nigeria’s Unemployment Rate Increases By 27.1%

According to the National Bureau of Statistics (NBS), Nigeria’s Unemployment rate increased to 27.1 percent in the second quarter of the year (Q2 2020) compared to 23.1 per cent recorded in Q3 2018.

Labour Force Survey under COVID-19 which was released on Friday according to the Labour Force Statistics shows that the unemployment rate among young people (15-34years) was 34.9 per cent, up from 29.7 pet cent, while the rate of underemployment for the same age group rose to 28.2 per cent from 25.7 per cent in Q3, 2018.

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