Nigeria’s Unemployment Rate Reaches the Highest Level Since 2009

nigerian-youth
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Nigeria’s unemployment rate was recorded at 12.1 percent in the March quarter of 2016, up from 10.4 percent in the fourth quarter of 2015, reaching the highest level since December of 2009.

The number of unemployed persons rose by 18 percent to 9.485 million, employment grew a meager 0.12 percent to 69 million and the labor force went up 2 percent to 78.4 million.

Meanwhile, youth unemployment increased to 21.5 percent from 19 percent. The unemployment rate in Nigeria averaged 9.04 percent from 2006 until 2016, reaching an all time high of 19.70 percent in the fourth quarter of 2009 and a record low of 5.10 percent in the fourth quarter of 2010. The unemployment rate in Nigeria is reported by the National Bureau of Statistics, Nigeria.

(Source: Tradingeconomics.com)