Unemployment has become a major problem bedeviling the lives of Nigerian youth, causing increased militancy, violent crimes, kidnappings, restiveness and socially delinquent behaviour. Youth unemployment is devastating to both the individual and the society as a whole both psychologically and economically.
How bad is unemployment in Nigeria?
Currently, 33.3% or 23.2 million of the about 70 million people who should be working in Nigeria are out of work. An acceptable level of unemployment would be 4%-6%. The country’s underemployment rate – people who work less than 20 hours a week – is also high at 22.8%.
What are the main causes of unemployment in Nigeria?
5 Major Causes of Unemployment in Nigeria
- Epileptic Electric Power Supply. Lack of regular electric power supply is the biggest cause of unemployment in Nigeria. …
- Poor Quality of Education. …
- Negligence of Agriculture and Other Natural Resources. …
What are the problems of unemployment?
Impact Of Unemployment
The problem of unemployment gives rise to the problem of poverty. The government suffers extra borrowing burden because unemployment causes a decrease in the production and less consumption of goods and services by the people. Unemployed persons can easily be enticed by antisocial elements.
What are the effects of youth unemployment in Nigeria?
The findings revealed that unemployment in Nigeria among youths are caused by six major problems and six major effects which has created tension and hatred between the haves and have not, leading to communal clashes and the rise of such groups such as Boko Haram, Niger Delta Militant, armed robbery, prostitution and …
Which job has highest salary in Nigeria?
Top 25 Highest Paying Jobs in Nigeria Ranked:
- Project Manager – N321,000.
- Petroleum Engineer – N294,000.
- Sailor – N263,000.
- Pilot – N210,000.
- Investment Bankers- N194,000.
- Dentist- N193,000.
- Software Developer- N153,000.
- Accountant – N126,000.
What is Nigeria’s unemployment rate 2020?
According to the National Bureau of Statistics’ (NBS) Labour Force Survey, Nigeria’s unemployment rate was 27% in Q2 2020 four percentage points higher than the 23% reported in Q3 2018. This is the first time in six quarters that the country’s unemployment data has been published.
What is unemployment causes and solutions?
Problems caused due to unemployment
The problem of unemployment gives rise to the problem of poverty. Young people after a long time of unemployment find the wrong way to earn money. To get rid from the unemployment stress, they accept alcohol or drugs. Unemployed youths accepts suicide as the last option of their life.
What is the cause and effect of unemployment?
effects of unemployment include over exploitation of available labor, reduced rate of economic growth, reduced human capacity, loss of human resources and increase in poverty levels (Dawson 101). One positive effect of unemployment is the availability of adequate labor at reduced market prices.
What are the ways to reduce unemployment?
Top 6 Strategies to Reduce Unemployment
- Strategy 1# Use of Labour-intensive Technology:
- Strategy 2# Accelerating Investment in Agriculture:
- Strategy 3# Diversification of Agriculture:
- Strategy 4# Labour-Intensive Industrial Growth:
- Strategy 5# Services and Employment Growth:
- Strategy 6# Education, Health and Employment Generation:
What are the two reasons for unemployment?
Causes of unemployment
- Frictional unemployment. This is unemployment caused by the time people take to move between jobs, e.g. graduates or people changing jobs. …
- Structural unemployment. …
- Classical or real-wage unemployment: …
- Voluntary unemployment. …
- Demand deficient or “Cyclical unemployment”
What are three causes of unemployment?
4 Types of Unemployment and Their Causes
- Frictional unemployment. Frictional unemployment is caused by temporary transitions in workers’ lives, such as when a worker moves to a new city and has to find a new job. …
- Structural unemployment. …
- Cyclical unemployment. …
- Seasonal unemployment.
Why unemployment is a serious problem?
Unemployment has costs to a society that are more than just financial. Unemployed individuals not only lose income but also face challenges to their physical and mental health. Societal costs of high unemployment include higher crime and a reduced rate of volunteerism.
What is the main cause of youth unemployment?
Inadequate education and lack of productivity is costing jobs. Unemployment increases progressively with decreased educational levels; and the education system is not producing the skills for the labour market. Labour supply is affected by the increase in the number of job seekers over the years.
What are the problems of youth unemployment?
Consequences of youth unemployment
It can also negatively affect the physically well-being of youths, impede their skills development, potentially cause youth homelessness and a lower output, loss of human capital and increased poverty, especially in developing countries.
What are the effects of unemployment in youth?
Being unemployed for a long period of time in youth has been correlated to decreased happiness, job satisfaction and other mental health issues. Unemployed youth also report more isolation from their community. Youth who are neither working nor studying do not have the opportunity to learn and improve their skills.