Labour Accuses NBS Of Misleading Unemployment Rate Report

Labour Accuses NBS Of Misleading Unemployment Rate ReportThe Nigerian Labour Congress (NLC) has criticized the National Bureau of Statistics (NBS) for its recent report on the country’s unemployment rate, dismissing the figures as disconnected from the current economic realities.....KINDLY READ THE FULL STORY HERE▶

According to the NBS, Nigeria’s unemployment rate dropped to 4.3% in the second quarter of 2024, down from 5.3% in the first quarter of the year, signaling an improvement in the labour market. This decline was described as part of a gradual recovery from the 5.0% rate recorded in the third quarter of 2023.

However, Chris Onyeka, the National Assistant General Secretary of the NLC, rejected the report, calling it a “voodoo document” and accusing the NBS of misrepresenting the true state of the economy. Onyeka argued that it is implausible for unemployment to be decreasing when factories are shutting down, consumer spending is falling, and businesses are struggling.

“Unemployment cannot be decreasing when factories are closing their doors, and when consumer spending is on the decline. If anything, unemployment is increasing,” Onyeka stated.

He also questioned the methodology used by the NBS, suggesting that the figures were “fabricated” to mislead the public. According to Onyeka, the disconnect between the reported data and the observable realities in the economy undermines the credibility of the NBS.

“Once data fails to reflect the actual situation, it loses its relevance. Unfortunately, the NBS has lost credibility due to the misleading data they continue to publish,” he said.

Onyeka challenged the NBS to provide concrete evidence of the sectors that are supposedly driving job creation. “Where exactly are these jobs coming from? Is it from companies that are complaining about low consumer demand and sluggish economic activity? It doesn’t add up,” he added.

He further likened the situation to the perceived flaws in Nigeria’s election management, referring to the NBS’s actions as “INEC-style manipulation.” Onyeka suggested that Nigerians, frustrated with the figures, could seek legal action, but ultimately, he argued, the public views the NBS as a failed institution, much like the Independent National Electoral Commission (INEC).

“The truth remains: the NBS has become a failed institution in the eyes of the public,” Onyeka concluded.

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