Nigeria's Q1 2024 unemployment rate rose to 5.3%, with youth unemployment decreasing slightly to 8.4%.

Nigeria's unemployment rate rose to 5.3% in Q1 2024, up from 5.0% in Q3 2023, with urban areas at 6.0% and rural areas at 4.3%. Youth unemployment decreased slightly to 8.4%. The NEET rate for youth increased to 14.4%. Self-employment remains high at 84%, while the employment-to-population ratio fell to 73.2%. The report highlights challenges faced by youth, urging leaders to prioritize job creation to combat rising unemployment and its societal impacts.

September 24, 2024
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