Nigeria Unemployment Rate

Unemployment Rate in Nigeria increased to 23.90 percent in 2011 from 21.10 percent in 2010. Unemployment Rate in Nigeria is reported by the National Bureau of Statistics. From 2006 until 2011, Nigeria Unemployment Rate averaged 14.6 Percent reaching an all time high of 23.9 Percent in December of 2011 and a record low of 5.3 Percent in December of 2006. In Nigeria, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force. This page provides - Nigeria Unemployment Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-21

Actual Previous Highest Lowest Forecast Dates Unit Frequency
23.90 21.10 23.90 5.30 27.90 | 2014/06 2006 - 2011 Percent Yearly

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Nigeria Unemployment Rate
LIST BY COUNTRY

Labour Last Previous Highest Lowest Forecast Unit
Population 166.21 2012-12-31 164.39 166.21 45.15 170.89 2014-06-30 Million [+]
Unemployment Rate 23.90 2011-12-31 21.10 23.90 5.30 27.90 2014-06-30 Percent [+]
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Unemployment Rate | Notes
The unemployment rate can be defined as the number of people actively looking for a job divided by the labour force. Changes in unemployment depend mostly on inflows made up of non-employed people starting to look for jobs, of employed people who lose their jobs and look for new ones and of people who stop looking for employment.


RELATED NEWS

Nigerian Inflation Rate Edges Up Slightly in March  
The annual consumer prices in Nigeria accelerated to 7.8 percent in March of 2014, from 7.7 percent recorded in February, as food cost edged up. Compared with the same period a year earlier, the inflation rate slowed down from 8.6 in March of 2013.
Nigeria Central Bank Leaves Rate on Hold and Hikes Reserve Ratio  
The Monetary Policy Committee decided on March 25th to hold the interest rate at 12 percent, as the Central Bank agreed to continue the existing tight monetary policies. It also decided to increase the cash reserves requirement for private sector deposits by 300 bps to 15 percent.
Nigeria Inflation Falls to 6-Year Low  
In February of 2014, Nigeria annual inflation rate decelerated to 7.7 percent, down from 8 percent in January, as all consumer prices slowed. The central bank targets consumer inflation between 6 and 9 percent.
Nigeria Inflation Rate Unchanged at 8% in January  
In January of 2014, Nigeria annual inflation rate remained steady at 8 percent. All major prices were relatively unchanged for the second consecutive month at the single digit rate.
Nigeria’s GDP May Rise after Rebasing Exercise  
Nigeria National Bureau of Statistics will replace the present GDP price structure (base year) for the first time in 23 years with a more recent one to reflect structural changes in the economy.
Nigeria GDP Expands 7.67% in Q4 2013  
According to Nigeria National Bureau of Statistics estimates, the country’s GDP advanced 7.67 percent year-on-year in the last quarter of 2013, higher than the revised figure of 6.81 and 6.99 percent recorded in the third quarter and the corresponding period of 2012, respectively. For 2013, growth rate was estimated at 6.87 percent, up from 6.58 percent in 2012.
Bank of Nigeria Holds Key Rate at 12%  
In its January 20th and 21st, 2014 meeting, the Monetary Policy Committee of the Central Bank of Nigeria decided to leave the benchmark interest rate unchanged at 12 percent for the fourteenth straight meeting.
Nigeria Inflation Rate Rises in December  
In December of 2013, Nigeria annual inflation rate rose slightly to 8 percent, from 7.9 percent in November. Nigeria's central bank sets 2014 consumer inflation between 6 and 9 percent.
Nigeria Inflation Rate Accelerates in November  
In November of 2013, Nigeria inflation rate edged up for the first time in four months to 7.9 percent, mainly due to higher food prices. The October reading at 7.8 percent was the lowest in more than five years.
Central Bank of Nigeria Leaves Rate Unchanged in November  
In its 19th of November meeting, the Monetary Policy Committee of the Central Bank of Nigeria decided to leave the benchmark interest rate unchanged at 12 percent. The Committee cited attaining price and exchange rates stability, and warned of possible tightening in 2014.
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Singaporean Trade Surplus Narrows Sharply in March  
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