Unemployment rate in Africa’s biggest economy hit 33.3 percent in the fourth quarter (Q4) 0f 2020, according to data published by the National Bureau of Statistics (NBS) on Monday.
This is the highest unemployment rate in Nigeria’s history.
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According to the NBS, this means that 33.3 percent of the labour force in Nigeria or 23.2 million persons either did nothing or worked for less than 20 hours a week, making them unemployed by the definition in Nigeria.
“This is an additional 1.4 million persons from the number in that category in Q2, 2020,” the NBS stated.
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