Nigeria’s unemployment rate rose to 5.3 percent in the first quarter of 2024, up from five percent in the previous quarter, according to a report released by the National Bureau of Statistics on Tuesday.
The report highlighted an increase in unemployment among females at 6.2 percent, compared to 4.3 percent for males. Urban areas recorded a 6.0 percent unemployment rate, while rural areas had a lower rate of 4.3 percent.
Youth unemployment saw a slight decline to 8.4 percent from 8.6 percent in Q3 2023. Those with postgraduate education experienced a low unemployment rate of two percent, while individuals with post-secondary education faced a higher rate of nine percent.
The employment-to-population ratio also dropped, standing at 73.2 percent in Q1 2024, down from 75.6 percent in Q3 2023. In addition, self-employment accounted for 84 percent of the workforce, reflecting a decrease from 86 percent in the same period last year.
—Ezinwanne Onwuka reports for TruthNigeria from Abuja.
