NAIRAMETRICS
Nigeria’s unemployment rate has seen a dramatic drop from 33.1% reported in March 2021 to 4.1% for the first quarter of 2023.
However, the statistics bureau noted that the drop is not a result of the creation of more jobs but a redefinition of the term unemployment in line with the International Labour Organisation’s (ILO) guideline.
In the report titled Nigeria’s Labour Force Survey (NLFS) released this month, employment is defined as any labour for profit even for an hour in seven days
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