unemployment

South Africa Unemployment Rate Crashes Despite Floods, Outages

South Africa Unemployment Rate Crashes Despite Floods, Outages

August 24, 2022 5:57 am

The unemployment rate in South Africa fell for a second consecutive quarter based notwithstanding the widespread power cuts and devastating floods, StatsSA confirmed on Wednesday.

Africa Today News, New York reports that between April and June, the jobless rate declined by 0.6 of a percentage point over the first quarter to 33.9 percent of the workforce, the official data agency disclosed.

In the first quarter, unemployment fell to 34.5 after 35.3 percent at the end of 2021.

According to the StatsSA, there was a net quarterly gain of 648,000 jobs, with the biggest increases in community and social services, …

Elumelu Cries Out Over Hardship, Poverty In Nigeria

Elumelu Cries Out Over Hardship, Poverty In Nigeria

March 17, 2022 1:24 pm

Nigerian Economist, businessman and serial entrepreneur, Tony Elumelu on Thursday decried the worsening electricity, hike in prices of diesel, and its effect on businesses in the country saying the situation was getting out of hand.

The CEO of Heirs Holdings made these assertions in a series of tweets where he pointed out that businesses are suffering under the situation with Nigerian citizens groaning under food inflation as well.

‘How can a country so rich in natural resources have 90% of its citizens living in hardship and poverty?,’ Elumelu said.

‘This morning, I am listening to my colleagues at the office …

40% Of Nigerian Youths Jobless; Restless Angry — Adesina

40% Of Nigerian Youths Jobless; Restless Angry — Adesina

March 1, 2022 4:45 am

The President of African Development Bank, AfDB, Dr. Akinwumi Adesina, has decried the high rate of joblessness among Nigerians at the moment, asserting that about 40 per cent of youths were unemployed.

Adesina, who made this disclosure on Monday at a lecture in Lagos, pointed out that the youths were discouraged, angry and restless, as they look at a future that does not give them hope.

In the lecture, titled, ‘Nigeria – A Country of Many Nations: A Quest for National Integration‘, Dr. Adesina , however, said all hope was not lost as youths have a vital …

Nigeria Experiencing Its Worst Unemployment Crisis – W'Bank

Nigeria Experiencing Its Worst Unemployment Crisis – W’Bank

July 24, 2021 4:13 am

A new report by the World Bank has suggested that Nigeria’s unemployment crisis in recent times is the worst in the nation’s history. 

The report which was analysed by Africa Daily News raised an alarm over the nation’s rising unemployment situation was published by the World Bank with support from the Korea World Bank Partnership Facility (KWPF) and the Rapid Social Response (RSR) trust funds.

According to the research paper, the nation’s ever increasing working-age population combined with scarce domestic employment opportunities is creating high rates of unemployment, particularly for youth.

This situation has also been worsened by the pressures …

Behave Yourselves If You Want Jobs — Buhari Warns Youths

Behave Yourselves If You Want Jobs — Buhari Warns Youths

June 11, 2021 12:50 am

The President of Nigeria, Muhammadu Buhari has issued a stern warning to Nigerian youths to behave themselves and ensure the nation is secured if they want jobs in the country.

 

Buhari pointed out that no investor can invest in an unsecured environment, a situation he quite agreed is currently bedeviling the Nation at the moment.

In an interview on Arise TV yesterday morning which was monitored by Africa Daily News, New York, President Buhari, decried the spate of violence in the country submitting that the Endsars protesters should be for the lack of investments and jobs in the country.…

Youth Restiveness Ticking Time Bomb for Nigeria - Elumelu

Youth Restiveness Ticking Time Bomb for Nigeria – Elumelu

April 8, 2021 5:37 pm

International industrialist and Chairman of the United Bank of Africa (UBA) Tony Elumelu has stressed the need to unlock the potential of youths in Nigeria and Africa generally, stating that failure to do that could be disastrous.

The banking Czar said this in an address he delivered to 21,000 youth at the Joshua Generation International Youth Conference organised by the Anglican Church at the University of Nigeria, Nsukka, Enugu State.

According to him, youth restiveness remains a ticking time-bomb in the continent, noting that countries in the region continue to face issues around extremism, banditry, robbery, senseless killing, kidnapping, and …

Insecurity: Recruit 50M Youths Into Army, Tinubu Urges FG

Insecurity: Recruit 50M Youths Into Army, Tinubu Urges FG

March 29, 2021 2:15 pm

The National Leader of the All Progressives Congress, Bola Tinubu, on Monday, urged the Federal Government of Nigeria to consider recruiting at least 50 million youths into the Nigerian Army to boost Nigeria’s fight against terrorism, banditry and all forms of internal and external security threats bedeviling the nation.

Tinubu gave this advice when he spoke at the 12th colloquium to celebrate his 69th birthday in Kano State.

According to him, ‘We are under-policed and we are competing with armed robbers and bandits to recruit from the youths who are unemployed —33 percent unemployed?’

Read Also: If Bola Tinubu Fixed

…
Comments On Unemployment Presidency Attacks Atiku

Comments On Unemployment: Presidency Attacks Atiku

March 29, 2021 12:49 am

Former Nigerian Vice President Atiku Abubakar, was on Sunday attacked by the Presidency over his comments on the unemployment situation in the country which statistics have shown was the worst in the world. 

The presidency reacting to those comments made by Atiku declared that he is part of the rot the nation has become.

The Presidency frowned at Atiku’s stance that Nigeria’s unemployment figures were huge and for saying that Nigeria is fast degenerating to a failed state.

According to Atiku, ‘I have never felt so bad at being proven right, as I am by the report from Bloomberg Business
…
Nigeria's Poor Economy Responsible For Insecurity – Tinubu

Nigeria’s Poor Economy Responsible For Insecurity – Tinubu

March 27, 2021 11:39 pm

The National leader of Nigeria’s ruling party – the All Progressive Congress (APC), Asiwaju Bola Tinubu has declared that the nation’s economy is weak and it is responsible for insecurity and youth unemployment across the country.

He made the remarks on Saturday as the chairman of the 2021 Sardauna Annual Memorial Lecture held at Arewa House, Kaduna, Tinubu said the government should act fast by pumping funds into national projects and programmes to encourage employment.

According to the former Lagos Governor, the private sector is even worst for it, making it difficult for them to help the government get out …

UK Unemployment Hits 5.0% On COVID-19 Fallout

Spain Unemployment Hit 16.26% Amid COVID-19 Fallout

October 27, 2020 5:51 pm

Spain’s unemployment rate jumped to 16.26 percent in the third quarter as the country’s tourism-dependent economy was ravaged by the coronavirus pandemic, official data showed Tuesday.

The reading for the July-September period compares with a jobless rate of 15.3 percent for April to June in the eurozone’s fourth-largest economy, national statistics office INE said in a statement.

There were an additional 355,000 people out of work in Spain in the third quarter, still an improvement over the second quarter when over a million jobs were lost, mainly in the tourism sector.

The number of total unemployed stood at 3.7 million …

Chile Launches Fresh Talks To Calm Deadly Unrest

Chile Unemployment Rises By 5.6%, Hits New Record Of 13%

August 29, 2020 4:43 pm

Unemployment in Chile has reached a new record high of 13.1 percent, the national statistics institute said Friday.

Unemployment rose by 5.6 percentage points in the rolling May-July quarter compared to the same period in 2019.

The statistics institute said it was the highest figure since 2010 when the body changed its calculation method.

That means that more than a million people are out of work, leaving 8.1 million employed after the loss of 1.8 million jobs over the last year.

However, the unemployment figure doesn’t take into account the 760,000 people that took advantage of a government initiative launched …

COVID-19 Pandemic Spikes Nigeria’s Unemployment Rate

COVID-19 Pandemic Spikes Nigeria’s Unemployment Rate

August 14, 2020 7:54 am

The COVID-19 pandemic worsened Nigeria’s unemployment situation, according to new figures by the National Bureau of Statistics.

According to NBS, the unemployment rate during second quarter, when Nigeria was in shutdown, rose from 23.1 percent in 2018 to 27.1% this year.

The underemployment rate increased from 20.1% in Q3, 2018 to 28.6%.

Read Also: FG Unveils Fresh Plans To Wipe Out Unemployment

For the period under review, Q2, 2020, the unemployment rate among young people (15-34years) was 34.9%, up from 29.7%, while the rate of underemployment for the same age group rose to 28.2% from 25.7% in Q3, 2018.…

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