NLC speaks on NBS drop in unemployment rate report

The Nigerian Labour Congress (NLC) has dismissed the latest unemployment figures released by the National Bureau of Statistics (NBS), calling them unrealistic and inconsistent with the country’s economic realities.

The Organized Private Sector (OPS) echoed this sentiment, suggesting that the report does not align with prevailing economic conditions.

The NBS report claimed Nigeria’s unemployment rate fell to 4.3% in the second quarter of 2024, down from 5.3% in Q1 2024 and 5.0% in Q3 2023.

It highlighted improvements in labour market metrics, including a rise in the Labour Force Participation Rate to 79.5% from 77.3% in the previous quarter and an increase in the Employment-to-Population Ratio to 76.1% from 73.2%.

Self-employment accounted for 85.6% of total employment, up from 84%, while informal employment also saw a slight rise to 93.0%.

Urban unemployment dropped to 5.2%, compared to 6.0% in Q1, and rural unemployment fell to 2.8% from 4.3%.

These trends underscore the significance of agriculture and informal sectors in rural employment versus the urban reliance on formal jobs.

Youth unemployment (ages 15–24) also declined, reaching 6.5% from 8.4%, while gender disparities persisted, with female unemployment at 5.1% compared to 3.4% for males.

The report noted that underemployment, defined as workers seeking additional hours, decreased to 9.2% in Q2 from 10.6% in Q1, while broader labour underutilisation indicators also showed improvement.

However, the NLC’s Assistant General Secretary, Chris Onyeka, criticized the findings, describing them as misleading and detached from the realities Nigerians face.

He referred to the report as a “fabrication,” arguing that unemployment cannot decline amid factory closures, reduced manufacturing, and weak consumer spending. Onyeka questioned the credibility of the NBS, claiming its statistics lacked alignment with visible economic trends and were designed to mislead the public.

Onyeka further challenged the agency to identify the sectors purportedly driving job creation, arguing that economic downturns and employer struggles contradict the reported improvements.

He drew parallels between the perceived inaccuracies in the unemployment data and alleged shortcomings in Nigeria’s election management, accusing the NBS of losing public trust.

The NLC representative called for a review of the methodologies used by government agencies to ensure that official statistics accurately reflect the realities on the ground, emphasizing the need for credible and transparent data.