The National Bureau of Statistics (NBS) has announced that Nigeria’s unemployment rate has gone down. In the second quarter (Q2) of 2024, it dropped to 4.3%, compared to 5.3% in the first quarter (Q1).
According to the Nigeria Labour Force Survey Q2 2024, released on Monday, shows that urban unemployment was at 5.2%, while rural unemployment was much lower, at 2.8%.
The report also mentioned that the percentage of working-age people who are part of the workforce increased to 79.5% in Q2 2024, up from 77.3% in Q1 2024. This shows that more people are getting jobs.
Gender and Participation
The survey found minimal gender disparity in labour force participation, 79.9% of men and 79.1% of women were part of the workforce. These very similar numbers show that both genders are equally involved in work, and gender doesn’t really affect how many people work.
Employment-to-Population Ratio
In the second quarter of 2024, the ratio of people with jobs to the total population increased to 76.1%, up from 73.2% in the first quarter. But when comparing it to the same time last year, it was slightly lower than the 77.1% recorded in the second quarter of 2023.
Disability and Employment
The report highlighted a significant gap in participation rates between individuals with and without disabilities. While 80% of people without disabilities were working or looking for work, only 36.7% of people with disabilities were doing the same
