BREAKING: Nigeria’s Unemployment Rate Increases to 33.3%

 

Nigeria's unemployment figure has climbed to a staggering 33.3% according to data released by the National Bureau of Statistics (NBS).

 

The data revealed that Nigeria’s unemployment rate as of the end of 2020 rose to 33.3% from 27.1% recorded as of Q2 2020, indicating that about 21,764,614 (21.7 million) Nigerians remain unemployed. 

 

Underemployment rate however dropped from 28.6% recorded as at the second quarter 2020 to 22.8% in Q4 2020.

 

The report shows that the estimated number of persons in the economically active or working-age population (15 – 64 years of age) during the reference period of the survey, Q4, 2020 was 122,049,400.

 

More details shortly…