NIGERIA'S UNEMPLOYMENT RATE INCREASES TO 33.3% IN Q4 2020
Nigeria's unemployment rate has increased to 33.3% in the fourth quarter of 2020, according to the Labour Statistics Report released by the National Bureau of Statistics.
The report released on Monday reveals a 6.1% increase compared to the 27.1% recorded in the second quarter of 2020.
“The number of persons in the economically active or working-age population (15 – 64 years of age) during the reference period of the survey, Q4, 2020 was 122,049,400. This is 4.3% higher than the figure recorded In Q2, 2020, which was 116.871, 186, ” NBS disclosed.
Imo State recorded the highest rate of unemployment with 56.64%, followed by Adamawa and Cross River States with 54.89% and 53.65% respectively while Benue recorded the highest number of underemployment at 43.52%.
Lagos State, however, recorded the lowest underemployment rate, at 4.5% in the fourth quarter of 2020.
A further breakdown of the report revealed that the unemployment rate among rural dwellers was 34.5%, up from 28.2% in Q2, 2020, while urban dwellers reported a rate of 31.3% up from 26.4%.