A new report by the International Labour Organisation (ILO) predicts that the number of unemployed persons globally could rise to 208 million by 2015, a hike from the current 200 million unemployed people across the world.
According to the world of work report, the ILO discloses that high levels of labour market imbalances in developing countries and long-term unemployment in advanced economies will remain acute.
In Nigeria where unemployment is on the increase, the ILO suggests well-designed social protection and a boost of labour income to check this trend.
Over 20 million out of Nigeria’s 160 million populations are young and unemployed.
Unemployment rate measures the number of people actively looking for a job as a percentage of the labour force Figures from the national bureau of statistics place the unemployment rate in Nigeria at 23.90 per cent since 2011, a sharp rise from 21.10 per cent in 2010.
But the federal government disagrees with the popular notion that the growth recorded in the Nigerian economy has not impacted on the lives of Nigerians by way of employment generation.
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