Unemployment Rate in Nigeria increased to 4.20 percent in the second quarter of 2023 from 4.10 percent in the first quarter of 2023. Unemployment Rate in Nigeria averaged 4.16 percent from 1991 until 2023, reaching an all time high of 6.00 percent in the fourth quarter of 2020 and a record low of 3.70 percent in the fourth quarter of 2013. source: National Bureau of Statistics, Nigeria
Unemployment Rate in Nigeria is expected to be 5.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Nigeria Unemployment Rate is projected to trend around 5.40 percent in 2024 and 4.50 percent in 2025, according to our econometric models.