Nigeria’s unemployment rate rose to 5.3 per cent in the first quarter of 2024, the National Bureau of Statistics has said.
The bureau said this in its Nigeria Labour Force Survey (NLFS) report for Q1 2024 released on Tuesday.
“The Unemployment rate increased to 5.3 per cent in the first quarter of 2024 from 5.0 per cent in Q3 2023,” the NBS said.
A breakdown of the report showed that the labour force participation rate among the working-age population declined to 77.3 per cent in Q1 2024 from 79.5 per cent in Q3 2023.
It said the employment-to-population ratio was 73.2 per cent in Q1 2024. This, according to the report, is a decrease of 2.4 percentage points compared to a ratio of 75.6 in Q3 2023.
Subscribe our newsletter to stay updated
Thank you for subscribing!
Subscribe our newsletter to stay updated
Thank you for subscribing!
