RECESSION: 2.1 Million Nigerians Lost Their Jobs In 2016 –NBS
For a government that promised to create 3 million jobs in its first year in office, it could not have been worse.
While the universities churn out millions of graduates, those who manage to find jobs cannot keep them because of the economic downturn.
About 2.1 million people were thrown back into the labour market in 2016 alone.
This is according to the National Bureau of Statistics which released the unemployed figures on Monday.
According to NBS, 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 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.
An analysis shows the unemployment rate was highest for those within the age bracket of 15 to 24, rising from 25% to 25.2%.
For the 25 to 34 age group, the unemployment rate increased from 15% to 15.4%.
It noted that unemployment and underemployment were higher for women than men in the fourth quarter of 2016.
16.3% of women in the labour force were unemployed at the end of 2016.