FX RATES
FX RATES

Nigeria’s unemployment rate jumps to 33.3% as at Q4 2020

Nigeria’s unemployment rate as of the end of 2020 rose to 33.3% from 27.1% recorded as of Q2 2020, indicating that about 23,187,389 (23.2 million) Nigerians remain unemployed.

This is according to the recently released labour force report published by the National Bureau of Statistics (NBS).

Under-employment rate in the reference period however dropped from 28.6% recorded as at the second quarter 2020 to 22.8% in Q4 2020.

The report shows that the estimated 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.

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