Nigeria's unemployment rate rose to 5% in the third quarter of 2023, up from 4.2% in the previous period. The jobless rate among young people aged 15-24 rose to 8.6% from 7.2%. Unemployment in the urban areas also increased marginally to 6% from 5.9% in the previous quarter. source: National Bureau of Statistics, Nigeria

Unemployment Rate in Nigeria increased to 5 percent in the third quarter of 2023 from 4.20 percent in the second quarter of 2023. Unemployment Rate in Nigeria averaged 4.19 percent from 1991 until 2023, reaching an all time high of 6.00 percent in the fourth quarter of 2020 and a record low of 3.70 percent in the fourth quarter of 2013. This page provides the latest reported value for - Nigeria Unemployment Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Nigeria Unemployment Rate - data, historical chart, forecasts and calendar of releases - was last updated on March of 2024.

Unemployment Rate in Nigeria increased to 5 percent in the third quarter of 2023 from 4.20 percent in the second quarter of 2023. Unemployment Rate in Nigeria is expected to be 5.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Nigeria Unemployment Rate is projected to trend around 4.70 percent in 2025 and 5.20 percent in 2026, according to our econometric models.



Related Last Previous Unit Reference
Employment Rate 75.60 77.10 percent Sep 2023
Minimum Wages 30000.00 30000.00 NGN/Month Sep 2023
Unemployment Rate 5.00 4.20 percent Sep 2023
Youth Unemployment Rate 8.60 7.20 percent Sep 2023

Nigeria Unemployment Rate
In Nigeria, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force.
Actual Previous Highest Lowest Dates Unit Frequency
5.00 4.20 6.00 3.70 1991 - 2023 percent Quarterly