427,000 jobs created in third quarter 20I5, says NBS
THE National Bureau of Statistics (NBS) has said that in the third quarter of 20I5 (Q3) about 427,000 new net jobs were created across the country, even as the bureau affirmed that this was inadequate to match the over 1.9 million new entrants of job seekers into the labour market in Q3 2015.
According to the bureau’s unemployment report made available to The Guardian, within the same period, the number of unemployed in the labour force increased by 1,454,620 (529,923 in Q2) persons between Q2 2015 and Q3 2015, resulting in an increase in the unemployment rate to 9.9 percent in Q3 2015 from 8.2 percent in Q2 2015, down from 7.5 percent in Q1 2015. This, the NBS said represents the fourth consecutive rise in the unemployment rate since Q3 2014.
Accordingly there were a total of 20.7 million persons between the ages of 15‐64 that were willing and able to work and actively seeking work (that is in the labour force) that were either unemployed or underemployed compared to 19.6 million in Q2 2015, compared to 17.7 million in Q1 2015.
The unemployment rate within the review period was typically highest for those within the ages of 15‐24 (17.8 percent in Q3 2015, up from 14.9 percent in Q2 2015 and 13.7 percent in Q1 2015), while the underemployment rate for those within the ages 15‐24 declined slightly to 31.8 percent in Q3 from 33.8 percent in Q2 and 30.6 percent in Q1 2015,” the bureau said.
According to the report, for those in the labour force within the ages of 25‐34, unemployment rose to 10.8 percent in Q3 2015 from 8.9 percent in Q2 2015 and 8.2 percent in Q1 2015, while underemployment stood at 18.5 percent in Q3 from 19.5 percent in Q2 and 17.7 percent in Q1 2015. It further said that 49.6 percent of Nigerians in the labour force (not entire population) aged 15‐24 were either unemployed or underemployed in Q3 2015 compared to 48.7 percent in Q2 and 44.3 percent in Q1 2015, while another 29.3 percent aged 25‐34 were either unemployed or underemployed in Q3 2015 compared to 28.4 percent and 25.9 percent in Q2 and Q1 2015 respectively.