Buhari Recession: 2.1 Million Nigerians Lost Their Jobs in 2016

The National Bureau of Statistics has said that the number of Nigerians who became unemployed rose by 2.1 million to 11.55 million at the end of 2016 from 9.48 million at the beginning of the year.

The NBS stated this in its unemployment report, which was released on Monday, June 5, 2017.

The NBS report stated that the unemployment rate was highest for persons in the labour force between the ages of 15-24 and 25-34, which represents the youth population in Nigeria.

For instance, it stated that the unemployment rate was highest for those within the age bracket of 15 to 24, rising from 25 per cent to 25.2 per cent.

For the 25 to 34 age group, the unemployment rate, according to the report increased from 15 per cent to 15.4 per cent.

It noted that unemployment and underemployment were higher for women than men in the fourth quarter of 2016.

For instance, 16.3 per cent of women in the labour force were unemployed as of the end of the fourth quarter of 2016, according to the report.

On the other hand, it added that 12. 3 per cent of males were unemployed in the fourth quarter of last year.

The report stated, “The economically active population increased from 108.03 million to 108.59 million; this represents a 0.5 per cent increase over the previous quarter and a 3.4 per cent increase when compared to fourth quarter 2015.

“In the fourth quarter of 2016, the labour force population increased to 81.15 million from 80.67 million in the third quarter of 2016, representing an increase of 0.6 per cent 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, that is individuals that were able, willing and actively looking for work.”