A disparity of opinions has surfaced between Nigerians, along with the reputable fact-checking platform “World of Statistics,” renowned for its global following of over one million on Twitter, and the National Bureau of Statistics (NBS) regarding the computation of Nigeria’s unemployment rate.....KINDLY READ THE FULL STORY HERE▶
The NBS recently reported a decline in the country’s unemployment rate to 4.1 percent during the first quarter of 2023.
Contrary to NBS’s figures, the public, supported by the World of Statistics, has expressed skepticism over the presented calculation….CONTINUE READING
The NBS indicated that the unemployment rate had diminished from 33.3 percent, as documented in the previous report during the fourth quarter of 2020.
This discrepancy in findings is attributed to the adoption of a new methodology by the NBS, which involves the comprehensive aggregation of employed and unemployed individuals to yield more precise labor force data.
NBS had earlier communicated its intention to utilize this revised methodology, with the anticipation that it would reveal a significant decline in Nigeria’s unemployment rate. In response, on a recent Thursday, the bureau released a labor report titled “Nigeria Labour Force Survey (NLFS) for Q4 2022 and Q1 2023.”
This report reasserted the 4.1 percent unemployment rate for the first quarter of 2023, attributing the drastic change to the modified methodology employed.
