As per a report by Bloomberg, Nigeria is the 2nd highest nation across the globe with an unemployment rate.
Africa’s most populous country, with over 200 million population, had a 27.1 percent employment rate as of Q2 2020 and had a surge to 33.3 percent in Q4, according to a report released by the Nigerian Bureau of Statistics (NBS).
According to NBS, the underemployment rate saw a decrease from 28.6% to 22.8%, while a combination of both the unemployment and underemployment rate for the Q4 stood at 56.1 per cent.
Figures tracked by Bloomberg showed that with the 33.3 percent unemployment rate, Nigeria surpasses South Africa and comes second after Namibia with 33.4 percent.
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