Unemployment

Abuja, Feb. 20, 2024:The National Bureau of Statistics(NBS) says the unemployment rate in Nigeria increased to 5.0 per cent in Q3 2023 from the 4.2 per cent recorded in Q2 2023.

The NBS said this in its Nigeria Labour Force Survey for Q3 2023, released in Abuja on Monday.

It said the unemployment rate was defined as the share of the labour force who were not employed but who were actively searching and were available for work.

In terms of educational attainment, the report said the rate of unemployment among persons with post-secondary education was 7.8 per cent in Q3 2023.

“Those with upper secondary education was 6.3 per cent, while those with lower secondary education was 5.5 per cent, 4.8 per cent for those with primary education and 2.7 per cent for those with no formal education.”

It said the unemployment rate among youth aged (15-24 years) in Q3 2023 was 8.6 per cent compared to the 7.2 per cent recorded in Q2 2023.

The report said the unemployment rate among men was 4.0 per cent and 6.0 per cent among women in Q3 2023.

“The unemployment rate was 6.0 per cent in urban areas and 4.0 per cent in rural areas in Q3 2023.”

The NBS said time-related underemployment in Q3 2023 was 12.3 per cent , indicating an increase of 0.5 per cent from the 11.8 per cent recorded in Q2 2023.

It said time-related underemployment rate was the share of employed people who were working less than 40 hours per week, but who would be willing and available to work more.

“The share of employed men that were underemployed was 8.7 per cent while the share of employed women that were underemployed was 16.0 per cent in Q3 2023.

“The underemployment rate was 11.3 per cent in urban areas and 13.3 per cent in rural areas.”

The NBS said the share of employed persons aged 15 to 24 years that were underemployed was 18.3 per cent.

The report said the combined rate of unemployment and time-related underemployment as a share of the labour force population (LU2) increased to 17.3 per cent in Q3 from the 15.5 per cent in Q2 2023.

The NBS said the labour force participation rate among the working-age population in Nigeria dropped to 79.5 per cent in Q3 2023 compared to 80.4 recorded in Q2 2023.

The report said the participation rate among men was 80.9 per cent while for women it was 78.2 per cent.

“The participation rate was 75.6 per cent in urban areas and 85.1 per cent in rural areas in Q3 2023.”

It said the employment-to-population ratio, which was the proportion of the working-age population that was employed was 75.6 per cent in Q3 2023

“This indicates a decline of 1.5 per cent compared to a ratio of 77.1 recorded in Q2 2023.”

The report said 87.3 per cent of employed Nigerians were self-employed with the remaining 12.7 per cent engaged as employees(wage employment) in Q3 2023.

It said 84.2 per cent of employed men were self-employed, while 90.5 per cent of employed women were self-employed.

“While men and women engaged as employees(wage employment) was reported at 15.8 per cent and 9.5 per cent, respectively.

The report said 4.1 per cent of the working-age population were in subsistence agriculture, compared to the 8.0 per cent recorded in Q2 2023.

The NBS said the informal employment rate in Q3 2023 was 92.3 per cent, compared with the 92.7 per cent recorded in Q2 2023.

It said in Q3 2023, the percentage of youth (15-24 years) identified as Young Persons Not in Employment, Education nor Training (NEET) was 13.7 per cent.

“This is a drop from the 13.8 per cent recorded in Q2 2023.”

The NBS said that there were more females in NEET at 15.5 per cent compared to males at 12.0 per cent.

Lagos, Dec. 27, 2023: Work Nigeria, a human resource consultant company, says it plans to reduce the unemployment trend in the country by putting one million Nigerians back into employment in the coming year.

The company’s Managing Director (MD), Mr Olufemi Oyebanjo, made the disclosure on Tuesday, in Lagos.

Oyebanjo, who expressed dismay over the high unemployment rate, especially among youths in the country, said the company saw i an opportunity to contribute to reducing it, thereby improving the country’s Gross Domestic Product (GDP).

“We have an ambitious goal to put one million Nigerians back to work; we all know that unemployment is a problem in Nigeria.

“Unfortunately, the age bracket of people that have this problem are the youth: it is our goal to reverse this trend; I remember sometime in 2021, Nigeria was the capital of the highest unemployment rate in the world.

“These are the figures we are here to reverse and help people get jobs; place people in the right jobs, train them on the job; train them for the job, and reduce the ‘Japa syndrome’’’, he said.

The MD said that one of the company’s strategies to address unemployment was to operate ‘Catch Them Young’ from the universities, and would engage the federal, state and private universities to see how it could develop or train the students to be job-ready.

According to him, part of the plans include to inaugurate its first of its kind Job Board in West Africa in January 2024, where the employers across the world will be meeting with the job seekers, and job opportunities meeting with the right skills.

He said that the company would also organise virtual job fairs in the universities.

“One thing is that we are going to be organising a regular Job Fair, the Virtual Job Fair.

“We understand the fact that there are specifically final-year students, who in their final year get very busy doing projects, classwork and other activities.

So, we are going to organise a virtual job fair that will bring employers all over the world into that event; the students will have the opportunity to speak with employers, and human resources managers of these great companies all over the world.

“Also, the students will be able to prepare themselves, even along the line, by the time they finish, and then at least at that time, they will know what these companies want and what these employers are looking for.

“They will prepare themselves along the line to make sure they are ready by the time they are out of NYSC,” Oyebanjo said.

Abuja, Dec. 22, 2023:The National Bureau of Statistics(NBS) says the unemployment rate in Nigeria increased to 4.2 per cent in Q2 2023 from the 4.1 per cent recorded in Q1 2023.

The NBS said this in its Nigeria Labour Force Survey for Q2 2023, released in Abuja on Thursday.

It said the unemployment rate was defined as the share of the labour force who were not employed but who were actively searching and were available for work.

In terms of educational attainment, the report said the rate of unemployment among persons with post-secondary education was 8.0 per cent in Q2 2023.

“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.”

It said the unemployment rate among youth aged (15-24 years) in Q2 2023 was 7.2 per cent compared to the 6.9 per cent recorded in Q1 2023.

The report said the unemployment rate among men was 3.5 per cent and 5.9 per cent among women in Q2 2023.

“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.”

The NBS said time-related underemployment in Q2 2023 was 11.8 per cent compared to 12.2 per cent recorded in Q1 2023.

It said time-related underemployment rate was the share of employed people who were working less than 40 hours per week, but who would be willing and available to work more.

” The share of employed men that were underemployed was 8.4 per cent while the share of employed women that were underemployed was 15.3 per cent in Q2 2023.

” The underemployment rate was 10.3 per cent in urban areas and 13.2 per cent in rural areas.”

The NBS said the share of employed persons aged 15 to 24 years that were underemployed was 19.3 per cent.

The report said the combined rate of unemployment and time-related underemployment as a share of the labour force population (LU2) was 15.5 per cent in Q2 2023.

The NBS said the labour force participation rate among the working-age population in Nigeria was 80 per cent in Q2 2023 compared to 79.9 recorded in Q1 2023.

The report said the participation rate among men was 82.1 per cent while for women it was 78.8 per cent.

“The participation rate was 78.4 per cent in urban areas and 82.6 per cent in rural areas in Q2 2023.”

It said the employment-to-population ratio, which was the proportion of the working-age population that was employed was 77.1 per cent in Q2 2023.

The report said the employment-to-population ratio for men and women was 79.3 per cent and 74.9 per cent, respectively.

“The employment-to-population ratio in urban areas was 73.8 per cent compared to 80.5 per cent in rural areas in Q2 2023.”

The report said 88.0 per cent of employed Nigerians were primarily self-employed with the remaining 12.0 per cent engaged as employees(wage employment) in Q2 2023.

It said 85.2 per cent of employed men were self-employed, while 91.0 per cent of employed women were self-employed.

” While men and women engaged as employees(wage employment) was reported at 14.8 per cent and 9.0 per cent, respectively.

The report said 8.0 per cent of the working-age population were in subsistence agriculture.

The NBS said the informal employment rate in Q2 2023 was 92.7 per cent.

It said in Q2 2023, the percentage of youth (15-24 years) identified as Young Persons Not in Employment, Education nor Training (NEET) was 13.8 per cent.

“This is an increase from the 12.1 per cent and 10.0 per cent recorded in Q4 2022 and Q1 2023, respectively,” the NBS said.

Abuja, Nov. 15, 2023: The Federal Government said it would establish industrial hubs as part of efforts to tackle rising youth unemployment in the country.

President Bola made the statement at the 55th International Conference organised by the Chartered Institute of Personnel Management (CIPM) which had the theme ” Sustainable Human Resources (HR), Business and National Development.”

The President whom was represented by the Minister of State for Labour and Employment, Hon. Nkiru Onyejeocha said “In the face of global challenges, my administration is committed to steering Nigeria towards self-reliance and reducing dependency on others.

“ We envision an unprecedented level of industrial activity, marked by the establishment of unique industrial hubs tailored to the strengths of each region in our great nation,” he said.

He reiterated the government’s commitment to ending poverty is deeply intertwined with our focus on economic growth and job creation.

“ We recognise that sustainable development can only be achieved by fostering an environment where job opportunities abound, ensuring food security, and eradicating poverty.

“ In the pursuit of our vision, inclusivity is paramount, we will prominently feature women and youth in all our endeavours, recognising them as integral contributors to our nation’s success,” the president said.

Also, as HR practitioners, your role is crucial in moulding, and effectively managing people to become catalysts for economic resurgence in an increasingly competitive and changing world.

He said that versatility is the watch word particularly after COVID 19 transformed the way we work, physical locations has been traded for remote location and meetings are now held virtually.

Earlier, the President and Chairman of the Governing Council of CIPM, Mr Olusegun Mojeed said that this year’s theme was borne out of the fact that most industries in today’s ecosystem.

He said that they were experiencing rapid and exponential bouts of change triggered by disruptive technologies and generally increasing the agile nature of the external market.

“Now more than ever, HR is charged with the responsibility of shaping a progressive organisation and nation. Sustainable people practice is a strong catalyst for cultural, national, and infrastructural development amongst others.

“ Talent supply will play a major role in creating and shaping the conditions in which organisations and nations will operate. Let me once again appreciate my HR colleagues for where we have taken HR post-COVID-19.

“ Thank you for showing up and continuing that upward trajectory, this conference seeks to provide cutting- edge solutions for people managers and leaders to navigate the changing times and build sustainable HR practices with the end goal being business and national development,” Tinubu said.

Abuja, Aug. 24, 2023: Nigeria’s unemployment rate has dropped to 4.1 per cent in the first quarter of 2023, and 5.3 per cent in the Fourth quarter of 2022.

The Statistician-General of the Federation, National Bureau of Statistics (NBS), Adeyemi Adeniran, said this on Thursday, during the inauguration  of the New Nigeria Labour force Survey (NLFS) in Abuja.

According  to him, the drop in Nigeria’s LFS from 33.3 per cent in the Fourth quarter 2020 to its present rate is based on change in methodology adopted and not government performance.

The new NLFS unveils a set of labour force indicators designed to provide unparalleled insights into the dynamics of the workforce in Nigeria.

The NLFS was conducted by the NBS in collaboration with the World Bank (WB) and the International Labour Organisation (ILO) in response to the labour market dynamics.

Adeniran said :“ Let me at this point clearly state that this methodology review has nothing to do with whitewashing the image of any government or political party.

“This process is routine for any responsible statistical office, and we have no reason to continue to ignore the adoption of new methods, when the evidence clearly indicates the need for it.

“As a national statistical office, our responsibility is to provide government and all users with accurate data for evidence-based decision making, adhering to the highest possible standards, and our commitment in this regard is unwavering.

According to Adeniran, the new method which indicates that not less than 73 per cent of Nigerians are engaged in one form of work, recognise all forms of engagements from which individuals earn income.

He said using the new ILO definition, the survey showed that the unemployment rate for the fourth quarter of 2022 stood at 5.3 per cent and 4.1 per cent for the first quarter of 2023.

“This figure aligns perfectly with neighbouring countries around Nigeria. Ghana (3.9per cent), Niger (0.5 per cent), Chad (1.4per cent), Cameroon (4.0per cent), Togo (4.1per cent), Benin Republic (1.7per cent) amongst others.

“In responding to the shifting global landscape and the ever-changing data ecosystem, it is imperative for us to continuously adapt the way in which we collect and analyse data.

“This is to ensure that we are producing data that reflects reality and the experiences of Nigerians.

“These changes also includes a revision to the design and methodology applied in the conduct of the actual survey.

“Which is the survey that produces commonly known headline Unemployment and Underemployment rates, as well as other labour market indicators that guide policymakers, researchers, and other users,” he said.

According to him, the results indicates a scarcity of Wage-employment, as the share of those employed in Wage-employment during the reference quarters was 13.4 per cent in Q4 2022 and 11.8 per cent in Q1 2023.

Adeniran said that the working age population which was defined previously as persons aged 15-64,  is now defined as persons aged 15 and above.

He said this was a very important change particularly in the Nigerian context as it recognises the labour contributions of persons above the age of 64  which was not done previously.

The NBS boss said the unemployed appeared to be the most controversial amongst the changes announced under the review.

According to him, the new standard defines the unemployed as persons within the Labour force, who within the reference period did not work for pay or profit for a minimum of 1 hour.

“In the real sense, nobody works 1 hour a week and then sits down and does nothing else when there are opportunities for more hours of work.

“The statistics show that only 7.1 percent of those working, work between 1 – 19 hours per week. So, 1 hour is just a benchmark and nothing more than that,” he said.

The survey revealed that about three quarters of Nigerians in the working age population, 73.6 per cent in Q4 2022 and 76.7 per cent in Q1 2023 were engaged in some form of work for pay or profit in the quarters under review.

Earlier, the World Bank’s Country Director, Shubham Chaudhuri pledged the continued support of the bank to ensure a robust, regular national LFS data for the country to work and plan with.

 Chaudhuri said a reliable data gave the government knowledge about the welfare of the nation and ensured the right intervention and programs needed to address the country’s challenges.

The Minister of Budget and Economic Planning, Abubakar Bagudu, said data was key to national planning and development.

According to Bagudu, President Bola Tinubu believes in reliable data for planning and will support anything that will lead to production of appropriate data.

“To create jobs for youths, we need this kind of data, a lot needs to be done to address the high rate of unemployment in the country. The President is desirous of reducing unemployment.

“Nigeria is one of the countries with absorptive capacity,  so what we need is to provide better environment and more incentives,” he said.

While commending efforts of NBS and partners in revising the methodology,  Bagudu said the ministry would from 2024 use of the revised data more practically.

Meanwhile, the Acting CBN Governor, Mohammed Tumala said labour statistics was one of the most important inputs to economic policy and business decisions.

 Tumula said this was because, labour was the most important of the factors of production and determined both the quantity and quality of utility of other factors.

While commending efforts of the NBS,  he stressed the need for synergy with communication experts to ensure proper linkage and dissemination of the data to public.

Similarly, Prof. Mike Obadan, Non Executive Director and member MPC, CBN reiterated the need for NBS to ensure robust strategy for communicating the survey findings to the public in simple language.

The National Directorate of Employment (NDE) has begun the registration of unemployed persons in Bayelsa.

The registration holding across the federation follows a directive by the management of the NDE, led by the Director-General, Malam Nuhu Fikpo.

Coordinator of the NDE in Bayelsa, Mr Aham Osuchukwu told newsmen in Yenagoa on Thursday that the registration was for all unemployed persons in Bayelsa, irrespective of their states of origin.

He said that NDE was focused on addressing unemployment through its various trainings in skills acquisition, disbursement of loans and other interventions.

“NDE caters to all strata of the society from the uneducated to the educated.

“The common thing amongst them is unemployment. The uneducated can be made to acquire skills and become artisans in skills areas of choice,’’ he said.

Osuchukwu added that the registration was free, and stressed that the National Identification Number was a prerequisite for the process.

He said other information required were personal details such as age, ward, Local Government Area, educational qualification and email or residential address.

He said also that one of the core mandates of the NDE was to obtain and maintain a data bank on employment and vacancies with a view to act as a clearing house to link job seekers with employers.

He implored all unemployed persons in Bayelsa to ensure they participated in the exercise holding from April 17 to May 5 to ensure the registration of their information in the data base of the NDE.

Osuchukwu stressed that the registration would ensure proper planning for interventions and other opportunities.