{"id":311066,"date":"2024-02-20T13:04:45","date_gmt":"2024-02-20T12:04:45","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=311066"},"modified":"2024-02-20T13:04:45","modified_gmt":"2024-02-20T12:04:45","slug":"unemployment-rate-climbs-to-5-in-q3-2023-national-bureau-of-statistics","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2024\/02\/20\/unemployment-rate-climbs-to-5-in-q3-2023-national-bureau-of-statistics\/","title":{"rendered":"Unemployment Rate Climbs to 5% in Q3 2023: National Bureau of Statistics"},"content":{"rendered":"<div class=\"react-scroll-to-bottom--css-dudiu-1n7m0yu\">\n<div class=\"flex flex-col pb-9 text-sm\">\n<div class=\"w-full text-token-text-primary sm:AIPRM__conversation__response\" data-testid=\"conversation-turn-207\">\n<div class=\"px-4 py-2 justify-center text-base md:gap-6 m-auto\">\n<div class=\"flex flex-1 text-base mx-auto gap-3 md:px-5 lg:px-1 xl:px-5 md:max-w-3xl lg:max-w-[40rem] xl:max-w-[48rem] group final-completion\">\n<div class=\"relative flex w-full flex-col agent-turn\">\n<div class=\"flex-col gap-1 md:gap-3\">\n<div class=\"flex flex-grow flex-col max-w-full\">\n<div class=\"min-h-[20px] text-message flex flex-col items-start gap-3 whitespace-pre-wrap break-words [.text-message+&amp;]:mt-5 overflow-x-auto\" data-message-author-role=\"assistant\" data-message-id=\"bce33ae0-0158-4bac-973e-c8d04a7d3119\">\n<div class=\"markdown prose w-full break-words dark:prose-invert light\">\n<ul>\n<li><strong>Nigeria&#8217;s unemployment rate rose to 5.0% in Q3 2023 from 4.2% in the previous quarter, as reported by the NBS<\/strong><\/li>\n<li><strong>Men experienced a 4.0% unemployment rate, while women faced a 6.0% rate, indicating gender disparities in unemployment<\/strong><\/li>\n<\/ul>\n<hr \/>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"mt-1 flex justify-start gap-3 empty:hidden\">The National Bureau of Statistics (<a href=\"https:\/\/www.withinnigeria.com\/news\/2021\/11\/18\/nbs-nigerias-economy-grew-by-4-03-in-q3-2021\/\">NBS<\/a>) has reported an increase in Nigeria&#8217;s unemployment rate to 5.0% in the third quarter of 2023, up from 4.2% in the previous quarter.<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>According to a labour force survey released by the NBS on Monday, the new methodology defines the unemployment rate as the percentage of the labor force (both employed and unemployed individuals) who are actively seeking employment and are available for work.<\/p>\n<p>Breaking down the data, the report indicated that the unemployment rate among men was 4.0%, while among women it stood at 6.0%. Disparities were also observed between urban and rural areas, with a 6.0% unemployment rate in urban areas compared to 4.0% in rural areas.<\/p>\n<p>Youth unemployment was notably higher at 8.6%, and educational attainment played a role, with unemployment rates varying from 2.7% for individuals with no formal education to 7.8% for those with post-secondary education.<\/p>\n<p>The report highlighted a gender disparity in employment, with 90.5% of women and 84.2% of men being self-employed. Additionally, informal employment rates were significantly higher among women, with 97.2% in rural areas and 87.5% in urban areas engaged in informal employment.<\/p>\n<p>These findings underscore the need for targeted interventions to address unemployment, especially among youth and those with lower levels of educational attainment, while also addressing gender disparities in employment opportunities.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nigeria&#8217;s unemployment rate rose to 5.0% in Q3 2023 from 4.2% in the previous quarter, as reported by the NBS Men experienced a 4.0% unemployment rate, while women faced a 6.0% rate, indicating gender disparities in unemployment The National Bureau of Statistics (NBS) has reported an increase in Nigeria&#8217;s unemployment rate to 5.0% in the [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":8933,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":{"source_name":"","source_url":"","via_name":"","via_url":"","override_template":"0","override":[{"template":"2","single_blog_custom":"211693","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_share_counter":"1","show_view_counter":"0","show_featured":"1","show_post_meta":"1","show_post_author":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"1","show_post_reading_time":"1","post_reading_time_wpm":"300","show_zoom_button":"1","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"0","show_prev_next_post":"0","show_popup_post":"0","number_popup_post":"1","show_author_box":"0","show_post_related":"0","show_inline_post_related":"1"}],"override_image_size":"0","image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post":"0","trending_post_position":"meta","trending_post_label":"Trending","sponsored_post":"0","sponsored_post_label":"Sponsored 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