Nigeria’s unemployment rate hit a new record high at 33.3 per cent in fourth quarter (Q4) 2020 from 27.1 recorded in second quarter (Q2) 2020.
According to Q4 unemployment report released by the Nigerian Bureau of Statistics (NBS) on Monday, a total of 23.18 million persons in Nigeria either did nothing or worked for less than 20 hours a week, making them unemployed during the fourth quarter (Q4) 2020.
During the period, while the underemployment rate decreased from 28.6 per cent to 22.8 per cent, a combination of both the unemployment and underemployment rate for the reference period gave a figure of 56.1 per cent.
