The National Bureau of Statistics (NBS) has revealed that the total number of Nigerians who became unemployed within the first and second quarter of 2016 now stands at 2.6 million.
This was disclosed in its second quarter unemployment and underemployment report released on Wednesday titled “UNEMPLOYMENT/UNDER‐EMPLOYMENT REPORT Q2 2016.
The report said: “In Q2 2016, the labour force population (i.e those within the working age population willing, able and actively looking for work) increased to 79.9 million from 78.5 million in Q1 2016, representing an increase of 1.78% in the labour force during the quarter.
“This means 1.39 million persons from the economically active population entered the labour force, that is individuals that were able, willing and actively looking for work.
“This magnitude of this increase between Q1 and Q2 2016 is smaller when compared to Q4 2015 and Q12016, which was an increase of 1.59m in the Labour force population.
“Within the reference period, the total number of person in full time employment (did any form of work for at least 40hours) decreased by 351,350 or 0.65% when compared to the previous quarter, and also decreased by 749,414 or 1.38% when compared to Q2 of 2015.”
NBS said the country’s unemployment rate grew from 12.1 percent in the first quarter of 2016 to a record high of 13.3 percent in the second.
According to the bureau, about 1.46 million Nigerians became unemployed in the third quarter of 2015, while another 518,102 became unemployed in the fourth quarter of 2015.
This brings the total freshly unemployed persons in the economy to a record high of 4,580,602, since President Muhammadu Buhari took office in May 2015.
“During the reference period, the number of unemployed in the labour force increased by 1,158,700 persons, resulting in an increase in the national unemployment rate to 13.3% in Q2 2016 from 12.1 in Q1 2016, 10.4% in Q4 2015 from 9.9% in Q3 2015 and from 8.2% in Q2 2015,” NBS said.
“In view of this, there were a total of 26.06 million persons in the Nigerian labour force in Q2 2016, that were either unemployed or underemployed compared to compared to 24.5 million in Q1 2016 and 22.6 million in Q4 2015.”
The economically active population or working age population (persons within ages 15- 64) increased from 106million in Q1 2016 to 106.69 million in Q2 2016, the report added.
Underemployment in the economy was also on the rise, with 15.4 million Nigerians said to be underemployed.
“The number of underemployed in the labour force (those working but doing menial jobs not commensurate with their qualifications or those not engaged in full-time work and merely working for few hours) increased by 392,390 or 2.61%, resulting in an increase in the underemployment rate to 19.3 % (15.4million persons) in Q2 2016 from 19.1% (15,02 million persons) in Q1 2016, 18.7% (14.42 million persons) in Q4 2015, from 17.4% (13.2 million persons) in Q3 2015 and 18.3% (13.5 million persons) in Q2 2015.”
There were a total of 26.06 million persons in the Nigerian labour force in Q2 2016, that were either unemployed or underemployed compared to 24.5 million in Q1 2016 and 22.6 million in Q4 2015.
The report also adds that the country economic woes is worst since 986 when the then head of state, Ibrahim Badamosi Babangida [IBB] was in power.
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