The NBS had in March 2021 reported that Nigeria’s unemployment rate rose to 33.3 per cent, translating to some 23.2 million people
The figure jumped from 27.1 per cent recorded in the second quarter of 2020 amidst Nigeria’s lingering economic crisis made worse by the coronavirus pandemic. The unemployment rate in the country has more than quadrupled since 2016 when the economy slipped into a recession.In April 2021, the then Nigeria’s Minister of Labour, Chris Ngige, claimed that the World Bank questioned the methodology employed by the NBS to generate its employment statistics.
On Thursday the NBS said it has enhanced its methodology of collecting labour market data through the Nigeria Labour Force Survey in line with International Labour Organisation guidelines.“It is conducted continuously throughout the year, with national-level results produced quarterly and state-level results at the end of a full year,” the bureau said.A breakdown of the new report showed that About three-quarters of working-age Nigerians were employed 73.6 per cent in Q4 2022 and 76.
“The underemployment rate, which is a share of employed people working less than 40 hours per week and declaring themselves willing and available to work more, was 13.7 per cent in Q4 2022 and 12.2 per cent in Q1 2023,” it said.“Most Nigerians operate their own businesses or engage in farming activities. The shares are 73.1 per cent and 75.4 per cent in Q4 2022 and Q1 2023 respectively.
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