Unemployment rate rises to 13. 9 % ' NBS

The National Bureau of Statistics says
the country’s unemployment rate has
risen from 13.3 per cent in the 2nd
quarter to 13.9 per cent in the 3rd
quarter of 2016.
This is contained in the Unemployment/
Under-employment Report for 3rd
Quarter of 2016, released by the NBS on
Friday in Abuja.
The report stated that the number of
unemployed in the labour force
increased by 555,311 persons.
According to the report, the
underemployment rate rose from 19.3
per cent in second quarter to 19.7 per
cent in the third quarter.
The report said that unemployment
covered persons (aged 15–64) who
during the reference period were
currently available for work, actively
seeking for work but were without work.
Underemployment, however, occurs when
a person works less than full time hours,
which is 40 hours, but work at least 20
hours on average a week.
It explained that underemployment could
also happen if a person works full time
but are engaged in an activity that
underutilises his skills, time and
educational qualifications.
The report, however, stated that the
economically active population or
working age population (persons within
ages 15 and 64) increased from 106.69
million in second quarter to 108.03
million in the third quarter.
“This represents a 1.26 per cent
increase over the previous quarter and a
3.57 per cent increase when compared
to the third quarter 2015.’’
In 3rd quarter, the labour force
population (i.e those within the working
age population willing, able and actively
looking for work) increased to 80.67
million from 79.9 million in second
quarter.
It said, “This represents an increase of
0.98 per cent in the labour force during
the quarter.
“This means about 782,886 persons
from the economically active population
entered the labour force, that is
individuals that were able, willing and
actively looking for work.
“This magnitude of increase between
second and third quarter is smaller when
compared to first and second quarter,
which was an increase of 1.39m in the
Labour force population.
“Within the reference period, the total
number of persons in full time
employment who (did any form of work
for at least 40 hours) decreased by
272,499 or 0.51 per cent.
“This figure decreased when compared
to the previous quarter, and decreased
by 1.66 million or 3.01 per cent when
compared to third quarter of 2015.’’
The report stated that with an
economically active or working age
population (108.03 million) and labour
force population (80.67 million),
27.36million persons within the
economically active or working age
population decided not to work.
It said that the population decided not
to work for one reason or the other in
the third quarter, hence they were not
part of the labour force and could not be
considered unemployed.
According to the report, there is eight
consecutive rise in the unemployment
rate since 4th quarter of 2014.
(NAN)