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Tag: Unemployment

34.3% of employed Nigerians trapped in poverty - Report
News

34.3% of employed Nigerians trapped in poverty – Report

A recent report published by the African Development Bank sheds light on a concerning reality: despite being employed, a significant portion of Nigeria’s workforce continues to grapple with poverty. According to the Nigeria Country Diagnostic Note 2023, approximately 34.3% of Nigerian workers aged 15 and older are categorized as the “working poor,” living below the […]

Nigeria's unemployment rate rises by 0.8% in Q3 2023
News

Nigeria’s unemployment rate rises by 0.8% in Q3 2023

“In Q3 2023, the unemployment rate rose to 5.0%, a considerable increase. It was stated in a report on Monday that this represents an increase of 0.8% from Q2 2023. The NBS reported in its “Nigeria Labour Force Survey Q3 2023” report, which was released on Monday, that “the nation’s unemployment rate increased significantly from […]

IWD: ILO unveils policy on domestic workers' labour rights
Business

Two million people may lose their jobs by 2024 – ILO

The International Labour Organization has stated that two million people may lose their jobs this year, as the global unemployment rate rises from 5.1 per cent in 2023 to 5.2 per cent in 2024. The PUNCH reported that the ILO claimed in its most recent report, “World Employment and Social Outlook: Trends 2024,” that while joblessness […]

Nigeria's unemployment rate rises by 0.8% in Q3 2023
Economy

Nigeria sits top of global unemployment rating – Report

Nigeria has the highest rate of unemployment according to a review of the most recent information made available by the World of Statistics. According to The Punch, Nigeria had the highest percentage (33.3%), followed by South Africa (32.9%), also an African nation, and Iran (15.55%). The survey also showed that the countries with the lowest unemployment […]

United States Flag attached to a building
Business

US employment rate drops to 3.5%

The United States economy continued to add jobs quickly leading to a decrease in the unemployment rate to 3.5 percent in March 3.6 percent. According to Reuters, this suggests a tight labor market that could lead to the Federal Reserve increasing interest rates again in May. The Labor Department’s closely watched employment report on Friday […]

Business

Unemployment will rise to 40.6% in 2023 – KPMG

KPMG has reported that Nigeria’s unemployment rate will continue to rise and hit 40.6% in 2023. This was revealed in the multinational’s latest report titled, “Global Economic Outlook” for the first quarter of the year 2023 accessed by AMBusiness. According to the report, unemployment is projected to persist as a significant challenge in 2023 due […]

US adds over 500,000 jobs despite global workforce reduction
Business

Weekly jobless claims in US drops below prediction

The number of Americans submitting new unemployment benefit claims dropped more than anticipated last week, indicating ongoing labor market strength in the country. The Labour department said on Thursday that, “Initial claims for state unemployment benefits dropped 20,000 to a seasonally adjusted 192,000 for the week ended March 11.” Meanwhile, Reuters’ survey of economists predicted […]

MoneyMaster'll create new jobs with G-Kala - MD
Banking

MoneyMaster’ll create new jobs with G-Kala – MD

      Kazeem Owoseni   MoneyMaster PSB is positive that the launch of its ‘G-Kala’ financial solution system will create market employment opportunities for Nigerians. The Managing Director of MoneyMaster, Demola Elutilo, made this known during the launch event of G-Kala on Wednesday. The event that took place at Lagos Travel Inn has just […]

US adds over 500,000 jobs despite global workforce reduction
News

US adds over 500,000 jobs despite global workforce reduction

  By Christian George Despite the increasing slashing of workforce globally, US employers added 517,000 in January. A report on Friday has it that unemployment and redundancy has reduced while employment peaked despite economists forecast of recession around the corner. The surge in demand for workers has helped in increasing wages and contributed to inflation. […]