“2.7 Million Nigerians Lost Their Jobs In 2016” – NBS

The National Bureau of Statistics has stated through their unemployment report that the number of Nigerians who became unemployed rose to 11.55 million at the end of 2016 against 9.48 million at the beginning of the year meaning that extra 2.7 million became unemployed at the end of 2016.

The NBS report also 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 those within the age bracket of 15 to 24, unemployment rose from 25 per cent to 25.2 per cent. While for the 25 to 34 age group, the unemployment rate, increased from 15 per cent to 15.4 per cent.

The report also showed that unemployment and underemployment were higher for women than men in the fourth quarter of 2016. 16.3 per cent of women in the labour force were unemployed as of the end of the fourth quarter of 2016. While 12. 3 per cent of males were unemployed in the fourth quarter of last year.