The National Bureau of Statistics (NBS) has reported a decline in Nigeria’s unemployment rate from 5.3% in the first quarter of 2024 to 4.3% in the second quarter.
This decrease indicates a positive trend in the country’s labor market.
According to the Statistician General of the Federation, Adeyemi Adeniran, the unemployment rate among persons with upper-secondary education was 8.5% in Q2 2024, while the unemployment rate among youths aged (15-24 and 25-34 years) in Q2 2024 was 6.5% each and the highest.
The report also highlighted that urban unemployment stood at 5.2% in Q2 2024, compared with 6% in Q1 2024, while unemployment in the rural areas was 2.8%, down from the 4.3% recorded in Q1 2024.
The NBS report provides valuable insights into Nigeria’s labor market, highlighting areas of improvement and challenges that need to be addressed.
