• Ssemujju Lewis E

Nigeria’s Unemployment Rate Rises To 27.1% In Q2 2020

According to the Nigeria Bureau Of Statistics, Nigeria’s unemployment rate stood at 27.1% in the second quarter of 2020.

This is the first time since 2018 that this kind of data has been produced, and this showed a spike from 23.1% in the third quarter of 2018.

This number shows a picture of how Nigeria is fighting two pandemics at once – the coronavirus and oil prices falling. The number is indicating that about  21,764,614 (21.7 million) Nigerians remain unemployed.

Key highlights

  • The number of persons in the economically active or working-age population (15 – 64 years of age) during the reference period of the survey, Q2, 2020 was 116,871,186.

  • The number of persons in the labor force (i.e. people within ages 15 -64, who are able and willing to work) was estimated to be 80,291,894. This was 11.3% less than the number of persons in Q3, 2018. Of this number, those within the age bracket of 25-34 were highest, with 23,328,460 or 29.1% of the labor force.

  • The total number of people in employment (i.e. people with jobs) during the reference period was dwellers, it rose to 31.5% from 22.8%, while the rate among urban dwellers rose to 23.2% from 58,527,276.

  • Of this number, 35,585,274 were full-time employed (i.e. worked 40+ hours per week), while 22,942,003 were underemployed (i.e. working between 20-29 hours per week). This figure is 15.8% less than the people in employment in Q3, 2020.

  • The unemployment rate during the reference period, Q2, 2020 was 27.1%, up from the 23.1% recorded in Q3, 2018. The underemployment rate increased from 20.1% in Q3, 2018 to 28.6%.

  • For the period under review, Q2, 2020, the unemployment rate among young people (15-34years) was 34.9%, up from 29.7%, while the rate of underemployment for the same age group rose to 28.2% from 25.7% in Q3, 2018. These rates were the highest when compared to other age groupings.

Key Take-aways

  • Nigeria’s youth remain the hardest hit by unemployment with over 13.9 million people aged between 15 and 34 years unemployed.

  • The data also shows 7.6 million of this subset did nothing.

  • Women also continue to bear the brunch of a bad economy with about 12.2 million out of jobs from the 27 million currently unemployed.

  • Graduates and postgraduates combined made up about 2.9 million of the total Nigerians that are unemployed.

  • In surprising data, out of the 35.5 million Nigerians that are fully employed, 28.8 million of them never attended school (6.29 million) or did not have a tertiary education (22.5).

  • In fact, most fully employed people in Nigeria with SSS (Senior Secondary School certificates) are a whopping 13.2 million.

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