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Headline : In new report, NBS reveals Nigeria’s unemployment rate dropped to 4.3% in Q2 2024

Read more from the original article on here at www.ripplesnigeria.com.






Tags : #new #report #nbs #reveals #nigerias #unemployment #rate #dropped #4325 #q2 #2024


No. of Paragraph 37

The National Bureau of Statistics (NBS) has announced a decline in Nigeria’s unemployment rate to 4.3% for the second quarter (Q2) of 2024.

According to the Labour Force report released on Monday, this marked an improvement from the 5.3% recorded in the first quarter (Q1) of 2024. continuing the recovery from 5.0% in Q3 2023.

The Labor Force Participation Rate also rose to 79.5%, up from 77.3% in the previous quarter, reflecting greater workforce engagement.

Self-employment remains the dominant form of employment, accounting for 85.6% of total jobs, while informal employment slightly increased to 93.0%. Urban unemployment decreased to 5.2%, and rural areas saw a significantly lower rate of 2.8%.

Read more from the original article on here at www.ripplesnigeria.com.


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