Unemployment simply put as joblessness is a situation of actively searching for a job but not being employed.
Unemployment rate is the percentage of the total number of people not employed divided by the total labour force of the population. Labour force here means the number of people that can actively work in a country, usually between the ages of 16years to 55years old.
Underemployment is a situation where an employee would be employed for a job that is below his/her level of qualification. Someone can said to be under employed when he wants a full time job but was given a part time job which cannot afford his basic needs. Unemployment can also been seen as the underutilization of skills. For instance, a medical doctor employed as a sales attendant in an organization can said to be underemployed because his medical skill is quite much different to that of a sales representatives.
Nigeria has had its fair share of employment and underemployment of citizens over the years.
Nigeria’s unemployment rate reached an all time low of 5.10% in the 4th quarter of 2010.
Despite the Organized Private Sector announcement of creating an additional 1.2 million jobs in 2017, the National Bureau of Statistics (NBS) recorded its highest ever rate of unemployment rate in its 3rd quarter report of 2017. According to the NBS report unemployment rate jumped from 14.2% in the 4th quarter of 2016 to 18.8% in the 3rd quarter of 2017. The unemployment rate even increased higher in 2018, it reached an all time high of 23.10 percent in the 3rd quarter of 2018.
Nigerian states and underemployment/unemployment rate
With the steady rise in the population of Nigeria, the country is imminent to even experience a higher rate of unemployment in the nearest future if the government does not tackle the problem adequately. According to recent report by the International Labour Organization Africa will experience a rise in unemployment rate due to the unavailability of decent jobs.
To tackle this impeding menace of unemployment th government must put in place adequate measures in job creation. The government should try as much as possible to diversify the economy and create an adequate environment that is business friendly to encourage investors to invest in the country. The issue of security should also be tackled adequately so that people can go ahead with their day to day business without fear.
The government should also make and implement adequate policies that world boost job creation in the country. More skills acquisition centers should also be established in order to help people learn various skills to means of livelihood.
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