Youth Unemployment In Nigeria: Shocking Statistics, Facts And Why The Future May Not Be So Bright Afterall
Unemployment has become a global concern and of more dire consequence is youth unemployment. Global youth unemployment rate was projected at 12.7 per cent in 2012.
Young people are the next generation of potentially productive economic and social actors. This growing youth demographic, in the context of developing nations, represents a once in a lifetime opportunity for locally led economic growth which can secure a prosperous future for some of the world poorest people.
In Africa, youth unemployment has become a threat to socio-economic peace and stability. Nigeria is Africa’s most populous country. Unemployment rate in Nigeria for the year 2011 stood at 23.9 percent with youth unemployment rate at over 50 percent.
In comparison to other African countries, the story does not get any better. Unemployment Rate in South Africa increased to 25.20 percent in the first quarter of 2013 from 24.90 percent in the fourth quarter of 2012.
Kenya Unemployment Rate reached an all time high of 40.0 Percent in December of 2011.
Ghana, Nigeria’s close neighbour, has an unemployment rate of 11% in 2012. The population in the 15-24 age group has an unemployment rate of 25.6 %, twice that of the 25-44 age group and three times that of the 45-64 age group.
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good article thnks you very much
Unemployement is taxable, if there was no wiilhohdtng you can expect that your standard deduction and exemptions will cover any tax you might owe, there are a lot of state credits you might get, check with your state tax commission, to see if you qualify, if someone else supported you you might be a dependent of another and be claimed on another return, if you weren’t that is all you can expect. If you made some kind of cash income that wasn’t W2 or other claim it on a schedule C of the 1040 this will qualify you for EIC and other credits. Gail
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Youth unemployment is solvable!Youth unemployment can be a thing of little concern! youth unemployment can be overturned and overcame! As much as the youths are bittered and battered by the devastating demographics plaguing our country, the bulk of the problem lies in the ability of our government and leadership to provide an enabling environment where creativity and innovation is birthed, nurtured, grown and expanded with a sincere motive and drive towards economic development and people development. On the other hand, organizations like RISE and other like organizations should without fainting keep the grassroot and community enlightenment, empowerment quest that though may be little considering the youth population of the country but goes a long way to effecting change in people’s lives. To the youths, do not give up, do not stop pressing forward, do not stop innovating, do not give up searching for possible way out….JUST ONE MORE STEP could give you the desired breakthrough but we must harm ourselves with extant knowledge, look inside for creativity, network with like minds and groups and dont stop asking/talking about that quest to people…you just may find the needed connect. A GREAT NIGERIA IS POSSIBLE! IT IS IN THE HANDS OF THE YOUTHS.
Unemployment has become a global phenomenon and may continue with deeper consequences especially to the youths of today who are potential parents of the future. Striking statistics is continuously showing signs of no good turn ahead.
Practically, there could be a turning point, if in the case of Nigeria, there is appropriate harnessing of the vast resources we have got presently. If nothing is done to cater for sustainable employment and favourable economic conditions, considering Nigeria’s current demography and the projected 200 million people in 2050; then the most populous African country would have faced undesired and dark days.
However, it is bent on the the leadership of this great country to start acting and think beyond the present. To cut unemployment, there must be stabilization of basic amenities -clean water, energy, functional healthcare and educational systems. I have witnessed various cottage industries started by individuals that have failed to survive; the failure basically linked to high operating cost caused by energy/power.
Unemployment is truly a menance in Nigeria but I am of the strong opinion that anyone who is unemployed hat decided to remain that way.
Not everyone will be in an office working nor will all people control large sums of money but as long as you are not begging, I feel you are better of.
I for example is still a secondary school student and stay under the care of my parents but can still boast of an income which I get monthly of which I use to sustain myself and help my family the little way I can. Now my source of income is not downgrading nor is it suspicious but respectable. If I them a secondarian could have such, what stops the graduates on the streets to strive hard and make it in life.
Life has never been a bed of roses nor will it due be. It is the survival for the fittest! Afterall striving hard and making it makes your success story great.