Young people aged 15-34 worst hit by unemployment- NBS
Young people between the ages of 15 and 34 are worst hit by the unemployment crisis rocking the country.
A “Labor Force Statistics: Unemployment and Underemployment Report” released by the National Bureau of Statistics, NBS, last week, said the unemployment rate among young people within that age bracket in Q4, 2020 was 42.5 per cent.
“For the period under review, Q4, 2020, the unemployment rate among young people (15-34 years) was 42.5% up from 34.9%, while the rate of underemployment for the same age group declined to 21.0% from 28.2% in Q2, 2020. These rates were the highest when compared to other age groupings,” NBS said.
The report also noted that the unemployment rate in Q4, 2020 rose to 33.3 per cent, an increase from the 27.1 per cent recorded in Q2, 2020.
According to the document, underemployment rate declined from 28.6 per cent in Q2, 2020 to 22.8 per cent in Q4 2020.
It said the number of persons in the economically active or working age population, 15 – 64 years of age, in Q4, 2020 was 122,049,400, adding that this is 4.3 per cent higher than the figure recorded in Q2, 2020, which was 116,871,186.
“The number of persons in the labour force (i.e., people within ages 15 -64, who are able and willing to work) was estimated to be 69,675,468. This was 13.22% less than the number persons in Q2, 2020. Of this number, those within the age bracket of 25-34 were highest, with 20,091,695 or 28.8% of the labour force.
“The unemployment rate among rural dwellers was 34.5%, up from 28.2% in Q2, 2020, while urban dwellers reported a rate of 31.3% up from 26.4%. In the case of underemployment among rural dwellers, it declined to 26.9% from 31.5%, while the rate among urban dwellers decreased to 16.2% from 23.2% in Q2, 2020.
“The total number of people in employment (i.e., people with jobs) during the reference period was 46,488,079. Of this number, 30,572,440 were full-time employed (i.e., worked 40+ hours per week), while 15,915,639 were under-employed (i.e., working between 20-29 hours per week). This figure is 20.6% less than the people in employment in Q2, 2020,” the report said.
It further noted that “under State disaggregation, Imo State reported the highest rate of unemployment with 56.6%, this was followed Adamawa and Cross River States with 54.9% and 53.7% respectively.
“The State with the lowest rate was Osun in the South-West with 11.7%. For underemployment, the state which recorded the highest rate was Benue with 43.5%, while Lagos State recorded the lowest underemployment rate, with 4.5% in Q4, 2020. A total number of 12,160,178 did not do any work in the last 7 days preceding the survey."