The Nigerian double whammy of inflation and unemployment… more of structured than event

inflation and unemployment

By PFI Analysts Earlier today, the National Bureau of Statistics (NBS) released the February 2020 inflation figures. According to the report, inflation rose for the 18th consecutive month in February 2021 and the highest in four years. Notably, headline inflation edged higher to 17.33% compared to the 16.47% recorded in January which is 0.10% higher than our estimate of 17.23%. On a month-on-month basis, the index advanced by 1.54%, this represents  a 0.05% increase  to the  1.49% recorded in January 2021. Food Prices Remain Pressured…Overarching Impacts of Insecurity & Exchange…

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7.2m South-Africans lack means of livelihood as unemployment hits 32.5%

UK unemployment falls back to 5%

South Africa’s unemployment rate increased by 1.7 per cent in the fourth quarter of 2020 to 32.5 percent, the highest since 2008, said Statistics South Africa (Stats SA) on Tuesday in its Quarterly Labor Force Survey (QLFS). Risenga Maluleke, statistician-general said the number of unemployed people increased by 701,000 to 7.2 million in Q4. According to an expanded definition of unemployment that includes those discouraged from seeking work, 42.6 per cent of the labour force was without work in the fourth quarter, amounting to 11.1 million people. The unemployment rate…

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NBS Data: 55.7% of Nigeria’s working population jobless, underemployed

unemployment, underemployment, NBS

…Underemployment at 28.6%, highest since 2014 Q4 …Only 35.59m have gainful jobs …Unemployed youth now spike at 34.9% …Imo State leading unemployment with 75.1% For the first time since December 2018, the National Bureau of Statistics (NBS), on Friday released its Labour Force Statistics report showing the nation’s worsening job conditions and the need for government to urgently create more employment opportunities for the masses and reduce socio-economic tension. According to the report (Abridged Labour Force Survey Under COVID-19), which forewarned that the rate increase does not amount entirely to…

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