In a recent revelation, the National Bureau of Statistics (NBS) has reported a slight uptick in Nigeria’s unemployment rate, reaching 4.2% in the second quarter of 2023, up from the 4.1% recorded in the first quarter of the same year. The NBS unveiled these findings in its Nigeria Labour Force Survey for Q2 2023, released in Abuja.

Defined as the percentage of the labor force actively seeking and available for work, the report delves into unemployment rates based on educational attainment. Individuals with post-secondary education experienced an 8.0% unemployment rate, while those with upper secondary education stood at 5.4%. The figures decrease progressively for those with lower secondary education (3.7%), primary education (3.0%), and no formal education (2.5%).

Among youth aged 15-24 years, the unemployment rate reached 7.2% in Q2 2023, a modest increase from the 6.9% recorded in Q1 2023. The gender breakdown revealed a 3.5% unemployment rate among men and 5.9% among women during the same period.

Urban areas saw a rise in the unemployment rate to 5.9% in Q2 2023, compared to the 5.4% recorded in Q1 2023. Conversely, rural areas experienced a decline, with the unemployment rate dropping to 2.5% in Q2 2023 from 2.9% in Q1 2023.

Stay informed as we continue to track and analyze the dynamics of Nigeria’s labor market, providing you with comprehensive insights into the country’s economic landscape.

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