Nigeria’s unemployment rate rose to 4.2% in Q2 2023 – NBS

According to the National Bureau of Statistics (NBS), Nigeria’s unemployment rate increased from 4.1% in Q1 2023 to 4.2% in Q2 2023.

This information was revealed by the NBS in its Nigeria Labour Force Survey for Q2 2023, which was made public on Thursday in Abuja.

It stated that the percentage of the labour force that is jobless yet actively looking for work is known as the unemployment rate.

According to the educational attainment report, in Q2 2023, the unemployment rate for individuals with post-secondary education was 8.0%.

“Those with upper secondary education was 5.4 per cent, while those with lower secondary education was 3.7 per cent, 3.0 per cent for those with primary education and 2.5 per cent for those with no formal education.”

The NBS reports that the unemployment rate for young people (15–24 years old) in Q2 2023 was 7.2%, down from 6.9% in Q1 2023.

According to the research, in Q2 2023, the jobless rate for men was 3.5 percent, while it was 5.9 percent for women.

“The unemployment rate in urban areas was 5.9 per cent in Q2 2023, which was an increase from the 5.4 per cent recorded in Q1 2023.

“While the unemployment rate in rural areas was 2.5 per cent in Q2 2023, which was a decline from the 2.9 per cent recorded in Q1 2023.”

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