Business

Nigerian youths worse hit by unemployment with 13.9m unemployed – NBS.

Nigeria record N1.8trn trade balance deficit in Q2-NBS

 

The latest unemployment statistics released by the National Bureau of Statistics (NBS) has shown the Nigerian youths are worst hit by the unemployment scourge.

The data from the NBS shows that Nigeria’s unemployment rate as at the second quarter of 2020 is 27.1% an indication that about  21,764,614 Nigerians remain unemployed.

According to the figures, Nigeria’s unemployment and underemployment rate (28.6%) put together stands at 55.7% as at 2020 Q2.

Of this figure, Nigerian youths have a lion share with over 13.9 million currently unemployed.

The last time the report was released In Q3 2018, there were about 13.1 million Nigerian youths unemployed. Youth between the ages 15-24 have about 6.8 million Nigerians out of jobs and another 7.1 million also unemployed.

The NBS also stated that Nigeria’s youth population eligible to work is about 40 million out of which only 14.7 million are fully employed and another 11.2 million are unemployed.

Youth unemployed Population is also about 64% of total unemployed Nigerians suggesting that the most agile working-class population in the country remains unemployed.

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