Nigeria’s unemployment rate hits 0.8% in 2023 — NBS report

National Bureau of Statistics, NBS has said unemployment rate in Nigeria rose by 0.8% in the third quarter of 2023.
The NBS, disclosed this in a report it published on Monday titled ‘Nigeria Labour Force Survey Q3 2023’
According to NBS, this was a significant rise, adding that the unemployment rate rose from the 4.2% recorded in Q2 2023 to 5.0% in Q3 2023.
Adding that the unemployment rate for youth between the ages of 15 and 24 years was recorded at 8.6 per cent in Q3 2023 while the informal employment rate in Q3 2023 was 92.3 per cent.