Nigerians’ Hunt For Jobs Worsen

Unemployment remains a sore thorn in Nigeria as it worsened in the third quarter of this year. Nigeria’s National Bureau of Statistics recently released its jobs report, showing a gradual increase in the number of people without jobs.

The report showed an increase in the unemployment rate to 9.9 per cent in the third quarter, from 8.2 per cent in the second and 7.5 per cent in the first quarter of 2015. The working age population (persons within ages 15‐64) climbed to 104.3 million compared to 102.8 million recorded in the first quarter of the year.

According to the report, the labour force population (those within the working age population willing, able and actively looking for work) also saw a 2.6 per cent increase, rising to 75.9 million in the second quarter from 74 million the previous quarter. The total number in full time employment increased by 840,773, that’s 1.52 per cent. Speaking to CNBC Africa, CEO Inspiro Consulting, Jimi Tewe, reckons that all factors regarding the increase should be looked at.

“Yes jobs were created, but the reality is that the number of graduates and all the people waiting for employment increased. So in that you’ll find that there’s a deficit in that regard but I think that the report is quite constructive,” says Tewe.

Tewe mentioned three contributors to the increase, namely the public sector, formal sector and the informal sector.
Tewe credited the informal sector for driving the growth this quarter, saying it wasn’t like the previous quarter where it was driven by the formal sector.

“The key contributors in the informal sector are education and agriculture. That can also be because of schools that started in the last quarter. You’ll find that there was some growth also with regards to trade and some other areas,” says Tewe.