Nigeria's unemployment rate dropped to 4.3% in Q2 2024, marking a labor market improvement.

Nigeria's unemployment rate fell to 4.3% in Q2 2024, down from 5.3% in Q1, showing improvement in the labor market. The youth unemployment rate dropped to 6.5%, and the employment-to-population ratio increased to 76.1%. Urban areas saw a rate of 5.2%, while rural areas had a lower rate of 2.8%. Females faced a higher unemployment rate at 5.1% compared to 3.4% for males.

November 25, 2024
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