Sen. Chris Ngige, Minister of Labour and Employment, said this while declaring open a … Too many restive youths promenade the streets of Africa’s most populous nation in search of jobs while trying their acts on nefarious activities when they are bored of job hunting. When the period by which the unemployment in the country is extended, the possibility would be that, it will push households and everyone of their member into untold debt, whereby increasing the rates of poverty relatively. Nigeria Unemployment Rate - data, historical chart, forecasts and calendar of releases - was last updated on July of 2020. source: National Bureau of Statistics, Nigeria. That out of the way, it is true that, this problem has been broadly debated.The unemployment normally happened when citizens who have reach the age of working, or who are graduates could not find a good and suitable paid work to engage themselves, at least, for a tangible period of time.However, going by the reports of the Bureau of Statistics,vabout 40 percent of Nigerian population who are said to fall within the employable age are not employed.One can now imagine the economic, as well as, the social costs of unemployment in Nigeria, which if you look at it critically, you will discover that such costs include, personal costs, that is, lost of income, and costs to government, that is, lost of tax revenue, as well as, costs to society at large, which have to do with social problems, and also lost in GDP. Unemployment refers to the share of the labor force … You can imagine the ffects of unemployment on health of the citizens.Lost of human capital in Nigeria is another economic consequence of unemployment in the country. However, unemployment is one key issue affecting the economy of Nigeria, and the Nigerian society.To be frank, the rate of unemployment in the country has actually increased as I said earlier over last few years. It is simply calculated as a percentage when you divide the number of unemployed persons by all the persons, who are currently in the labor market.Of course, it is true that, in the time of recession, the economy, in most cases, experienced a relatively high rate of unemployment in the country. Nigeria unemployment rate to reach 33.5 per cent by 2020, says the federal government. When the period by which the unemployment in the country is extended, the possibility would be that, it will push households and everyone of their member into untold debt, whereby increasing the rates of poverty relatively.The economic consequence of unemployment in Nigeria is that, it has helped in causing potential homelessness for Nigerian citizens.For instance, loss of income has actually leave Nigerian citizens without enough income to carter for their housing needs and costs.
In the last yea...Revealed: Nigeria’s unemployment rate to reach 33.5% by 2020 – Ngige As the unemployed are not able to buy so many things as they want, hence has contributed to lower spending as well as lower output.When there is high unemployment, the resultant effect will be that, it will contribute to more crime and more vandalism.It can as well, bring about the effect of alienation as well as, difficulties in the integrating process of young unemployed citizens into the society.The high rate of unemployment in the country can actually lead to social crisis and social unrest.The rate of unemployment in the country has actually increased as I said earlier over last few years. Unemployment in Nigeria & Solutions 2020 – One of the challenges that have pummeled Nigeria as a nation since it’s population upsurge is unemployment. How do I know this? Youth Unemployment Rate in Nigeria decreased to 36.50 percent in the third quarter of 2018 from 38 percent in the second quarter of 2018. The ideas expressed on this site are solely the opinions of the author(s) and do not necessarily represent the opinions of anyone else. What roles should different stakeholders play and what other options are not being exploited?“Why do we employ expatriates for jobs Nigerians can do or why can´t Nigerians do these jobs? Eid-el-Adha, which literal...Spain plunged into recession in the second quarter after its gross domestic product tumbled by 18.5 per cent due to the...Cloud services are critical for SMEs in the current environment, but they require experienced advisory and a comprehensi...DESPITE several weeks of closure of its centres across the globe due to COVID-19 pandemic, Porcche still delivered 116,9... Rights defender demands immediate investigation, prosecution By Egufe Yafugborhi HUMAN rights defender, Prince Wi...Nigerian Stock Exchange, NSE, on Tuesday, halted the over a month losing streak as investors gained N232 billion propell...Facebook on Friday added licensed music videos to the social network in the US, challenging YouTube for the attention of...AUSTRALIAN Prime Minister, Scott Morrison, sparked off quite a controversy when he rejected the historical truth that th...The search for the best people to assume important positions remains the first task of any national leader because on th...America’s 16th President left that observation carved in stone for prominent Nigerians who now must apologise publicly f...This Christmas season I had intended to engage in a critical investigation of religion given the powerful theological si...Another crucial point against the amalgamation is the extremely selfish, myopic and immoral reasons British imperialists...We all die.
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