Major highlights of Nigeria’s labour force report Q2 2024

Major highlights of Nigeria's labour force report Q2 2024

1. Unemployment rate decrease to 4.3% in Q2 (5.3% in Q1)

2. Youth unemployment rate (15-24 Years) reduced to 6.5% in Q2 ( 8.4% in Q1)

3. Informal employment stood at 93% in Q2 (92.7% in Q1)

4. Labour force… pic.twitter.com/PlnLhF5Abv

— TheCableIndex (@thecableindex) November 25, 2024

1. Unemployment rate decrease to 4.3% in Q2 (5.3% in Q1)

2. Youth unemployment rate (15-24 Years) reduced to 6.5% in Q2 ( 8.4% in Q1)

3. Informal employment stood at 93% in Q2 (92.7% in Q1)

4. Labour force participation rate increased to 79.5% in Q2 (77.3% in Q1)

5. Employment-to-Population ratio increased to 76.1% in Q2 (73.2% in Q1)

6. Urban unemployment was 5.2% in Q2 (6% in Q1)

7. Rural unemployment was 2.8%in Q2 (4.3% IN Q1)

8. Only 3.7% of the working-age population engaged in subsistence agriculture

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