1.7 million persons lose jobs in 9 months

The National Bureau of Statistics (NBS) has revealed that this year’s economic downturn  threw 1.7 million Nigerians out of jobs within nine months.

The report showed that the number of unemployed rose from 9.48 million at the beginning of the year to 11.19 million by September 30.

The report also indicated that while the employed number rose marginally from 69 million at the beginning of the year to 69.47 million by September ending, those looking for jobs rose by 2.18 million from 78.48 million to 80.66 million.

According to the report, unemployment was highest for those in 15 to 24 and 25 -34 age brackets, representing the youth population in the labour force while unemployment and underemployment were higher for women than men in the third quarter of 2016.

The report says unemployment rate was highest among the ages of 15 to 24, rising from 21.5 per cent in January to 25 per cent as of September 30 this year, while for the 25 to 34 age group, the unemployment rate increased from 12.9 per cent in January to15 per cent as at September 30.

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