Fresh Graduates Unemployment Declined From 28.1% To 25.2% – NBS

More Nigerian graduates have secured jobs in the past one year, according to latest reports by the National Bureau of Statistics(NBS).

Reports by the bureau said while more fresh graduates of higher institutions in the country have secured jobs, there is an increased underemployment as most of those jobs don’t culminate into 40hours per week which is the benchmark for employment.

According to the unemployment reports released on Wednesday, unemployment among fresh graduates declined by almost four percent from 28.1% to 25.2%.

Nigerian graduates

Underemployment, which defines people working less than 40 hours a week, increased from 11.3% to 13.8%.

“The increasing unemployment and declining underemployment rates imply that the fragile economic recovery is beginning to create employment, however, hours worked within these jobs are not yet enough for full-time employment (40+ hours within the week),” the report read.

“While this is ongoing, the inflow of entrants into the labour market continues to grow steadily, minimizing the effect of any jobs created within the economy on the overall unemployment rate.

“In absolute terms, 1,182,000 people joined the working age population (the age they are now allowed to work) in Q3 2018, out of which 961,391 people joined the labour force (those who are now eligible for work that has now started looking for work) between the second and third quarter of this year.

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