Nigeria’s unemployment rate drops to 4.3 percent in the second quarter (Q2) of 2024, a report from The Punch confirms.
The statistic which was revealed by the National Bureau of Statistics (NBS) in its Nigeria Labour Force Survey (NLFS) report for the second quarter of 2024 released on Monday, says Nigeria’s unemployment rate dropped to 4.3 percent from the 5.3 percent held in the first quarter of 2024.
The report also stated that “the combined unemployment rate and time-related underemployment as a share of the labour force population (LU2) decreased to 13 per cent in Q2 2024 from 15.3 per cent in Q1 2023.”
Also, according to the NBS informal employment stays atop at 93 percent.
The report also showed that the unemployment rate among persons with secondary education was 7.6 per cent in the second quarter of 2024, while that of youths aged (15-24 years) was 6.5 per cent in the same quarter and year.
Nigerians on the internet have made jest of the report.
@Karovoni said; “Lol. The unemployment rate in the UK is 4.3%, 4.1% in the US. If you like, believe APC propaganda.”
@olumidecapital wrote; “I honestly don’t understand the concept of using such methodology in a country economically informal.”
@wolexmind being more inquisitive said; “Multinationals closing down their business, local companies cannot pay staffs salary, poverty keep increasing on daily basis.
But to APC unemployment is decreasing, when poverty keep increasing, it can never be well with APC and this present APC government.”
@Ekitiketekan differed from the rest, highlighting how Nigerians always believe negative data; “They go doubt am, say it increases obingo go push am everywhere.
They only believe negative data.”
