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Cashew industry generates over $400m from export –

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Tinubu approves commercial oil exploration at Tongeji Island,

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Tag: Unemployment

Opinion

Obi blames leadership failure, political greed for high unemployment

The 2023 presidential candidate of the Labour Party, Mr. Peter Obi, has characterized a recent report by ActionAid and Plan International as an indictment of the leadership and economic trajectory of Nigeria. The report in question estimates the youth unemployment rate in the country at 80 percent. Obi pointed out that these statistics translate to […]

Economy featured

Britain’s unemployment rises to 5%, highest since 2021

Britain’s unemployment rate experienced a larger-than-expected rise in the third quarter, reaching five percent, marking the highest level since early 2021. This official data was released on Tuesday, just before a critical UK government budget announcement. The unemployment rate increased from 4.7 percent in the second quarter, according to the Office for National Statistics. This […]

China denies link to cyberespionage group accused of targeting Singapore
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China’s youth unemployment rate hits record high again

China’s youth unemployment rate hit a record in August since publication resumed under a revised calculation last year, adding to a recent string of gloomy economic data. The NBS announced that China’s overall unemployment rate in August stood at 5.3 per cent — up slightly from 5.2 per cent in July. The government’s jobless rate […]

34.3% of employed Nigerians trapped in poverty - Report
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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
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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 […]

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
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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. […]

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