Nigeria’s unemployment rate has hit a new record high at 33.3% in Fourth Quarter (Q4) 2020,
This is from the 27.1 recorded in Second Quarter (Q2) in year 2020.
According to Q4 unemployment report released by the National Bureau of Statistics (NBS) on Monday, March 15, a total of 23.18 million persons in Nigeria either did nothing or worked for less than 20 hours a week, thereby making them unemployed during the Q4 2020.
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The under-employment rate also in Q4 period decreased from 28.6% to 22.8%, a combination of both the unemployment and under-employment rate for the reference period gave a figure of 56.1%.
