In just nine months the total number of unemployed Nigerians jumped from 17.6 million to 20.9 million, according to new data released by the National Bureau of Statistics (NBS).
According to the data published on Wednesday, December 19, 2018, the total number of people who did nothing at all or worked under 20 hours a week increased by 3.3 million between Q4 2017 and Q3 2018.
According to the report, the working-age population (people between 15 – 64 years) increased from 111.1 million to 115.5 million.
It read in part, “The total number of people in employment increased from 68.4 million in Q3 2015 to 68.72 million in Q3 2016, to 69.09 million in Q3 2017 and 69.54 million in Q3 2018.
“The total number of people in full-time employment (at least 40 hours a week) increased from 51.1 million in Q3 2017 to 51.3 million in Q3, 2018.”
Even though the number of people in the labour force (i.e. people who are able and willing to work) increased from 85.1 million in Q3 2017 to 90.5 million in Q3 2018, the total number of people in employment (i.e with jobs) only increased from 69.09 million to 69.54 million in the same period.
The NBS stated in its report that a rise in the unemployment rate is not entirely equivalent to an increase in job losses.
“A rise in unemployment generally means the number of people searching for jobs has increased, which can occur because: people previously outside the labor force (e.g students, housewives etc) have decided to join the labour force and are now in search of jobs; or people previously working have lost their jobs and are now in search of jobs,” the NBS noted.