The Nigerian Labour Congress (NLC) has dismissed the reported decline in Nigeria’s unemployment rate, as published by the National Bureau of Statistics (NBS) on Monday, calling it fictional and inconsistent with the reality on the ground.
This stance was supported by the Organised Private Sector (OPS), which also stated that the report fails to reflect the actual economic conditions.
The NBS, in its latest report, indicated that Nigeria’s unemployment rate fell to 4.3 percent in the second quarter of 2024, suggesting an improvement in the labour market. This represents a drop from 5.3 percent in Q1 2024 and signals a steady recovery from the 5.0 percent recorded in Q3 2023.
