Nigeria’s unemployment rate worsened last quarter, rising from 27.1 per cent in the second quarter to 33.3 per cent. This translates to a percentage point increase of 5.2.
On the bright side, the rate of underemployment, people who work less than 40 hours a week, declined from 28.6 per cent to 22.8 per cent during the period.
The report said 23.2 million of 69.7 million Nigerians in the labour market were jobless.
The figures were contained in the Labor Force Statistics: Unemployment and Underemployment Report released by the National Bureau of Statistics (NBS) yesterday.
The document showed: “The number of persons in the labour force (that is, people within ages 15-64, who are able and willing to work) was estimated to be 69,675,468.
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