Youth Unemployment Rises To 42.24% In First Quarter Of 2016

Unemployment increased in Nigeria in the first quarter of 2016 to 12.1 percent from 10.4 percent. Youth unemployment increased to 42.24 percent in the same period as the economy contracted by o.36 percent.

The 0.36 percent contraction of Nigeria’s economy puts the country at the lowest level of growth since 1991.

The figures were released yesterday by the National Bureau of Statistics (NBS).

Manufacturing GDP slumped by 7.0 percent in Q1 2016 from 0.38 percent in Q4 2015 and – 0.70 percent in Q1 2015. Other (light) manufacturing GDP fell by 12.22 percent in Q1 2016 from -1.06 percent in Q4 2015 and -5.67 percent Q1 2015. Construction GDP declined by 5.37 percent in Q1 2016 from -0.35 percent and 11.17 percent in Q4 and Q1 2015 respectively.

Food and Beverage GDP declined by 11.12 percent in Q1 2016 from -5.63 percent in Q4 2015 and -5.23 percent in Q1 2015.

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NBS, nigeria, unemployment

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