Nigeria’s Unemployment Rate Jumps From 27.1% In Q2 2020, 33.3% In Q4 2020
Freshly released Q4 2020 labour force statistics by the National Bureau of Statistics (NBS) showed that Nigeria’s labour force (unemployment rate) increased by 33.3% in Q4 2020 from 27.1% in Q2 2020.
Only 46,488,079 were employed at the time of the survey, while the number of people in the labour force was estimated to be 69,675,468.
In the case of unemployment by state, Imo State recorded the highest rate of unemployment with 56.64%. This was followed by Adamawa with 54.89% and Cross Rivers State with 53.65%.
The States with the lowest rates were Osun, Benue and Zamfara States with 11.65%, 11.98% and 12.99% respectively. In the case of underemployment, Benue State recorded the highest rate with 43.52%, followed by Zamfara and Jigawa States with 41.73% and 41.29% respectively.
Combining each unemployment and underemployment, the country that recorded the best rate become Imo with 82.5% accompanied by means of Jigawa with eighty%. Ogun and Sokoto states recorded the lowest of the combined costs, 26.2% and 33.7% respectively.
- The quantity of men and women within the economically lively or running-age populace (15 - sixty four years of age) at some stage in the reference length of the survey, Q4, 2020 become 122,049,400. This is 4.3% better than the figure recorded in Q2, 2020, which turned into 116,871,186.
- The wide variety of men and women in the labour pressure (i.E., people inside a while 15 -64, who are in a position and inclined to work) became predicted to be 69,675,468. This changed into 13.22% less than the number humans in Q2, 2020. Of this variety, the ones inside the age bracket of 25-34 were highest, with 20,091,695 or 28.Eight% of the labour pressure.
- The general quantity of people in employment (i.E., humans with jobs) all through the reference period changed into forty six,488,079. Of this wide variety, 30,572,440 had been full-time hired (i.E., labored 40+ hours in line with week), at the same time as 15,915,639 were below-hired (i.E., working between 20-29 hours in step with week). This parent is 20.6% less than the people in employment in Q2, 2020.
- The unemployment price for the duration of the reference period, Q4, 2020 changed into 33.Three%, an increase from the 27.1% recorded in Q2, 2020. The underemployment fee declined from 28.6% in Q2, 2020 to 22.8%.
- The unemployment charge amongst rural dwellers turned into 34.5%, up from 28.2% in Q2, 2020, whilst urban dwellers mentioned a rate of 31.3% up from 26.Four%. In the case of underemployment among rural dwellers, it declined to 26.9% from 31.Five%, whilst the fee amongst city dwellers reduced to sixteen.2% from 23.2% in Q2, 2020.
- For the period beneath review, Q4, 2020, the unemployment rate amongst younger humans (15-34years) turned into forty two.5% up from 34.Nine%, even as the charge of underemployment for the identical age group declined to 21.Zero% from 28.2% in Q2, 2020. These costs have been the highest while as compared to different age groupings.
- Under State disaggregation, Imo State said the best price of unemployment with fifty six.6%, this turned into observed Adamawa and Cross River States with fifty four.Nine% and fifty three.7% respectively. The State with the bottom charge changed into Osun inside the South-West with 11.7%.
- For underemployment, the country which recorded the very best charge become Benue with forty three.Five%, even as Lagos State recorded the bottom underemployment charge, with 4.Five% in Q4, 2020.
- A total number of 12,one hundred sixty,178 did now not do any work inside the closing 7 days previous the survey.
Distribution of Working Age Population
The outcomes of the survey imply that the envisioned wide variety of individuals within the economically active or running age population (15 - sixty four years of age) at some stage in the reference duration of the survey, Q4, 2020 changed into 122,049,400. This is 4.Three% higher than the parent recorded in Q2, 2020, which was 116,871,186.
Of this quantity, girls constitute 50.Forty nine%, whilst men account for 49.5%. Further disaggregation by way of age group suggests that the 30.2% of the whole lively population is in the ages of 15-24, the best a few of the age groupings. The age-organization with the smallest active population is 55-64, with 10,221,108 or 8.37% of the full active populace.
The quantity of folks within the labour pressure (i.E., humans within a long time 15 -sixty four, who are able and willing to work) become estimated to be sixty nine,675,468. This was 13.22% less than the quantity individuals in Q2, 2020. Of this variety, those in the age bracket of 25-34 were maximum, with 20,091,695 or 28.34% of the labour force.
This is the envisioned range of men and women inside the economically lively population or working population, which are available and willing to paintings. This means that as of Q4 2020, only fifty seven.09% of Nigeria's economically lively population are within the labour pressure.
Unlike in the economically energetic population, the age institution that accounts for the very best wide variety under the labour force is the 25-34 age organization. This is expected as maximum people inside the age group of 15-24 are concerned in a single shape of training or the opposite, therefore aren't willing and/or available for work.
While girls are greater dominant under the active population, albeit marginal, the reverse holds for the labour force, in which adult males are more dominant with fifty six.72%, with females accounting for 43.28%.
Unemployment and Underemployment Statistics - National Level
During the reference length, the computed national unemployment charge rose from 27.1% in Q2, 2020 to 33.3% in Q4, 2020, at the same time as the underemployment rate reduced from 28.6% to 22.8%. A mixture of both the unemployment and underemployment charge for the reference duration gave a discern of fifty six.1%.
This means that 33.Three% of the labour force in Nigeria or 23,187,389 persons both did not anything or worked for less than 20 hours every week, making them unemployed by way of our definition in Nigeria. This is an extra 1,422,772 folks from the range in that class in Q2, 2020. Using the international definition of unemployment, the fee changed into computed to be 17.5%.
When considered with the aid of educational reputation, the ones reporting A 'degrees as their maximum qualification had the very best rate of unemployment with 50.7%, accompanied by way of people with first degree/HND at 40.1%.
Those with Doctorate Degrees as their highest qualifications said the bottom price of unemployment, 16.Nine% at some stage in the reference length. Under the age-groupings, the highest charge of unemployment become recorded a few of the 15-24-12 months age-organization with 53.Four%, observed by using the ones elderly among 25-34 with 37.Zero%, collectively the children population recorded an unemployment charge of forty two.5%.
In the case of underemployment by way of age grouping, those elderly between 55-sixty four recorded an underemployment charge of 25.7%, the best amongst the age groups. This became observed through those aged among forty five-54 with 24.Four%, even as those with the lowest underemployment fee have been those aged among 15-24 with 19.Eight%.
A combination of unemployment and underemployment rates shows that the ones elderly among 15-24 stated a combined charge of 73.2%, showing a serious mission for the age-group in stable full-time employment. Female unemployment turned into highest the various genders with 35.2% at the same time as male turned into 31.Eight% for the duration of the reference period.
A comparable case turned into recorded for underemployment, 24.2% became mentioned for women, while males said an underneath-employment charge of 21.8%. The unemployment fee among rural dwellers turned into 34.5%, at the same time as city dwellers reported a rate of 31.Three%. In the case of underemployment, rural dwellers reported a fee of 26.Nine%, even as the fee amongst city dwellers become sixteen.2%.
International Unemployment Rate
In contrast with other international locations across the world, we observe the International Labour Organisation's fashionable of 1-hour work according to week. Using this measure, Nigeria's latest unemployment rate is 17.5%. Comparing this rate internationally, out of 181 countries with a fee published inside the ultimate 2 years, Nigeria presently ranks as the 19th usa with the highest unemployment fee.
The nations with the highest unemployment costs presently are Bosnia and Herzegovinian (33.7%), Namibia (33.4%), and South Africa (32.5%) while people with the bottom rates are Qatar (zero.1%), Belarus (0.2%), Niger (zero.Three%) and Myanmar (0.7%). It is critical to be aware that reference periods and technique of calculating the unemployment fee could vary throughout the international locations.
Therefore, a direct contrast of the unemployment charge in one of a kind nations might not be