The National Bureau of Statistics have released its 2016 first quarter jobs report indicating that Nigeria’s Unemployment rate for the first quarter of 2016 is 12.1% from 10.4% in Q4 2015, 9.9% in Q3 2015 and 8.2% in Q2 2015.
The Bureau also reveal that Underemployment Rate was 19.1% for the first quarter of 2016.
Using NBS previous methodology, unemployment rate would have been 31.2% in Q1 2016, from 29.2% in Q4 2015, 27.3% in Q3 2015, 26.5% in Q2 2015, 24.2% Q1 2015, 23.9% in 2011 and 21,4% in 2010.)
Key highlights
- The unemployment rate within the review period was typically highest for those within the ages of 15–24 at 21.5% in Q1 2016 (56.1% using old methodology), up from 19.0% in Q4 2015 and 17.8% in Q3 2015, while the underemployment rate for those within the ages 15–24 increased slightly to 34.6% in Q1 2016 from 34.5% in Q4 2015.
- For those in the labour force within the ages of 25–34 however, unemployment rose to 12.9% in Q1 2016 (32.8% using old methodology), from 11.4% in Q4 2015, while underemployment remained at 19.9% in Q1 2016 similar to Q4 2015.
- Unemployment and underemployment continued to be higher for women than men in Q1 2016. While 14% (36.2% using old methodology) of women in the labour force (those between 15–65 willing, able and actively working or searching for work) were unemployed in Q1 2016, another 22.2% of women in the labour force were underemployed in Q1 2016. On the other hand, 10.3% (26.5% using old methodology) of males were unemployed in Q3 2015, while another 16.2% of males in the labour force were underemployed.
- About 528, 148 people lost jobs between Q4 2015 and Q1 2016
See report below;
