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Published On: Fri, Dec 21st, 2018

Minister harps on Nigeria’s rising unemployment rate

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By Musa Adamu

Minister of Budget and National Planning, Senator Udoma Udo Udoma, explained that even though the unemployment figures released recently by the National Bureau of Statistics (NBS) showed an increase in the unemployment rate, it was important to note that it was not the same thing as job losses.
He said the increase in the unemployment numbers was not because jobs had not been created by the Buhari Administration but that it was as a result of the rate of new job creation lagging behind the rate of new entrants into the job market.
He said as was generally known, employment growth usually slows down during a recession and takes some time to recover.
He however, gave an assurance that government was working hard to ensure that many more jobs were created to make rate of job creation runs much faster than the rate of new entrants to the job market.
The Minister made this clarification while fielding questions from journalists and members of the public during the 2019 budget proposals breakdown session in Abuja.
Senator Udoma stated that an examination of the NBS numbers actually showed that the Buhari administration had a positive net job creation record of 1,640,398.
He said this was exclusive of the 11.1 million persons that the NBS classifies as people who do some form of work but were considered to have worked too few hours to be officially considered as employed, he added.

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