PDP Reacts to Rising Unemployment Figures, Says More Nigerians Will Lose Their Jobs

PDP Reacts to Rising Unemployment Figures, Says More Nigerians Will Lose Their Jobs

The People’s Democratic Party (PDP) has reacted to the latest unemployment figures released by the Nigerian Bureau of Statistics (NBS).

NBS in its report released on Friday indicated that the number of unemployed Nigerians rose from 11.92 million in the first quarter of 2017 to 13.58 million and 15.99 million in the second and third quarters of the year respectively.

The report also showed a rise in the number of economically active or working age (15 – 64 years of age) Nigerians from 110.3 million to 111.1 million between the second quarter and third quarter. The expansion was however not matched with a corresponding increase in job creation.

the NBS report also said the increasing unemployment and underemployment rates implied that although Nigeria’s economy was officially out of recession, the domestic labour market was still fragile and economic growths in the past two quarters in 2017 and had not been strong enough to provide employment in Nigeria’s domestic labour market.

A portion of the report read: “The labour force population increased from 83.9 million in Q2 2017 to 85.1 million in Q3 2017. The total number of people in full-time employment (at least 40 hours a week) declined from 52.7 million in Q2 2017 to 51.1 million in Q3 2017.

“The unemployment rate increased from 14.2 per cent in Q4 2016 to 16.2 per cent in Q2 2017 and 18.8 per cent in Q3 2017.

“The number of people within the labour force who are unemployed or underemployed increased from 13.6 million and 17.7 million respectively in Q2 2017, to 15.9 million and 18 million in Q3 2017.

“Total unemployment and underemployment combined increased from 37.2 per cent in the previous quarter to 40 per cent in Q3 2017.”

The NBS also noted that in terms of geographical spread, Rivers State had the highest unemployment rate at 41.82 per cent, followed by Akwa-Ibom State (36.58 per cent), Bayelsa State (30.36 per cent), Imo State (29.47 per cent) and Kaduna State (28.96 per cent).

Comparing Nigeria’s third quarter’s unemployment rate with the international rates, the report stated that Nigeria ranked 28th among the international records.

Reacting to the report, Nigeria’s major opposition party, PDP said more Nigerians would lose their jobs under the present administration led by President Muhammadu Buhari.

National Publicity Secretary of the party, Mr Kola Ologbondiyan, said, “More Nigerians are going to lose their jobs under this incompetent regime. We have said it before that the President is not qualified to lead.

“The President is angry with Nigerians for not voting for him on many occasions when he approached them for their votes.

“Now, he is showing his anger by punishing them.”

Punch reports that the PDP spokesman however assured Nigerians to keep the hope of rescue alive and bear with President Buhari in the mean time.