According to data from a report recently released by the National Bureau of Statistics (NBS), this is an increase in the number of Not in Education, Employment, or Training (NEET) in Nigeria. This group of individuals indicate a disengaged youth state; they are youths who have completed their schooling but are not engaged in the labor market or in further education. 14.4% of Nigerian youths between the ages of 15 and 24 who were not enrolled in school, employed, or undergoing any kind of training were recorded in the first quarter of 2024. This number represented a rise from the 13.7% recorded in the third quarter of 2023.
It indicated that a higher percentage of females (15.9%) than males (13.0%) were classified as NEET in the quarter under review. This data was contained in the Nigeria Labour Force Survey (NLFS), recently released by NBS, a thorough study intended to gather information on employment, unemployment, and other labor force characteristics and provide quarterly national estimates. The NBS data also showed that youths between the ages of 15 and 24 made up 55.3% of the labor force in the first quarter of 2024.
Rate of discouraged job seekers increased to 3.6% in Q1 2024.
Employment statistics on young people aged 15 to 24 in the first quarter of 2024 was provided by the NBS report, which also noted that 2.4% of all job seekers in the working population who were discouraged were in this age range. This lags below other age groups, such as 25 to 34, which accounted for 7.3 percent of dejected job seekers; 35 to 45, 12.8 percent; and 55 to 64, 16.5, the most affected age group. The lowest impact among other age categories was recorded by those 65 and older with just 0.3%.
Discouraged job seekers are termed as those who are not actively seeking employment but are still eligible for work but are discouraged by certain aspects of the labor market. These issues could be past job search failures, inexperience or lack of qualifications, a mismatch between talents and available positions, being deemed too young or too old by employers, or disability that restricts them from working. According to the research, the percentage of unemployed individuals who were labeled as discouraged job seekers increased from 3.1% in Q3 2023 to 3.6% in Q1 2024.
Working-age population in the country stood at 73.2%.
This rise suggests that a greater proportion of individuals are giving up on looking for a job. There was a small gender difference in the data among discouraged job seekers: 3.4% of men and 3.8% of women. Nigeria continues to have a high percentage of informal employment, up slightly from 92.3% in Q3, 2023 to 92.7% in Q4. Working-age population in the country had 73.2% of them employed in Q1 2024, compared to 75.6% in Q3 2023. Based on gender, in Q1 2024, the employment-to-population ratio for men was 74.2% and for women it was 72.3%.
Furthermore, in Q1 2024, the employment-to-population ratio in urban regions was 69.5%, while in rural areas it was 78.9%. The ratio is lower now than it was in Q3 2023 (71.1% versus 80.7%, respectively). In the quarter under review, the percentage of self-employed individuals decreased to 84% from 86% in Q1 2023. The results of the survey show that between Q1 2024 (16.0%) and Q3 2023 (12.7%), the proportion of employed people who are predominantly employed has increased. For women, the rate of self-employment was 87.9%, whilst for men it was 79.9%.
Related Article: Unemployment Rate in Nigeria on the rise—NBS
Based on area of residence, the percentage of self-employed workers in rural areas was 91.9%, while in urban areas it was 78.2%. Nigeria continues to have a high percentage of informal employment; during the time period under review, it increased slightly from 92.3% in Q3, 2023 to 92.7%. According to the findings from surveys, the likelihood of working informally decreases with increasing educational attainment. The majority of employed people without formal schooling worked in informal jobs.