Causes Of Unemployment In Nigeria

This article is related to macroeconomic which examines how the economy functions and its performance. Unemployment as a whole is related to macroeconomics. There are many reasons as to why a person could be unemployed. He or she could be retrenched, fired or still be looking for a job. However, if

If unemployment rises in a country it will affect the country’s standard of living in a negative way, take Jamaican economy for example, approximately 65% of the labour is unemployed, so if 65% of the population is not earning an income /income is not being generated then there is going to be a fall out in the economy which will result in recession and also the GDP will decline. If unemployment continues to increase the standard of

Unemployment is seriously a big problem, because it threatens the unemployment people’s psychological and metal health. It can cause depression, anxiety, demoralization and low self-esteem, which all influence their health. However, the unemployment does not just affect the health, it is also influential to the human lives. When the rate of the unemployment

This paper is about how the high unemployment rate has an affect on the economy. The high unemployment rate had an affect on the Gross Domestic Production as well how it had an affect on the economy as well. This paper covers when the Gross Domestic Production went up the unemployment rate had gone down as well. The high unemployment rate also had direct ties to the economy, because if people are not working they are not going to spend money on house hold goods which is what drives the economy.

I want to pursue this question, because the issue of unemployment is very crucial to any society in the world. It is a major indicator of economic and social prosperity. John Maynard Keynes describes it as "one of the principle faults of capitalism".

The Nigerian economy has quite the surplus of natural resources they offer the potential for economic growth. “Crude oil accounted for over 95% of exports and over 65% of government revenue in 2004;” Nigeria is number eight in the world's exporter for oil. But agriculture still is a big part in the basic economic activity for the Nigerians.

Unemployment is a problem faced by all nations only that it varies in degree (Teichova & Matis, 2003). Reduction in its levels promotes economic growth and development in any country. There are various types of unemployment which include voluntary unemployment, involuntary unemployment, frictional unemployment, cyclical unemployment, structural unemployment and seasonal unemployment. Voluntary unemployment is where workers willingly leave the jobs they are holding and go to look for better ones. Involuntary unemployment on the other hand is where workers are fired or laid off from their jobs and need to find new ones. Frictional unemployment is where workers take some time before they can secure a job after leaving a certain job. This is a type of unemployment faced by many people since they leave jobs without having already secured new ones. Cyclic unemployment is the type of unemployment that is dependent on economic cycles of recession and boom (Cogley & Sargent 2005). As the economy enters into recession, some companies respond by cutting on the level of production hence laying off workers since they are not in full production. Cyclic unemployment naturally ends during boom. Structural unemployment on the other hand is the type of unemployment where some labor markets have more workers than the total jobs available (Jena, Kandalam & Sun, 2009). Also, it can occur where the

Currently, our country is in a recession, and the unemployment rate is at an all-time high. The unemployment rate consists of people not only out of work but also those who can work and are actively looking for work (Colander, 2010). Unemployment also means there are more people out of work than there are jobs available (Colander, 2010).

This type of unemployment arises from regular and predictable seasonal variation that causes changes the demand for labour. This type of unemployment affects some of the following industries: - Agriculture, Tourism, Construction, Catering and leisure. In Africa, the agricultural industries has the highest impact relative to all other form of unemployment since agriculture in many African countries contributes the greatest in employment in

Unemployment is a situation that occurs when people are without employment and actively seeking work. The measure of the prevalence of the rate of employment is known as unemployment rate. The International Labor Organization defines unemployment rate as a percentage of the total workforce. The total work force comprises of individuals who want to or waiting to start work. This excludes those who are disabled or retired. There are various causes of employment such as a reduction in aggregate demand and failure of the labor market to provide jobs. Unemployment affects individuals and the economy. The effects of unemployment on the individual include depression and loss of human capital. Its effects on the economy are a rise in inflation and economic recessions (Broman, Hamilton & Hoffman, 1990).

Unemployment is one of the biggest topics that we talk about as a country and also is one of the biggest problems that we have as well. In essence it is the state of being unemployed. There are three total types of unemployment: frictional, structural and cyclical. The latest unemployment rate reported by the Bureau of Labor Statistics (BLS) was 4.9% in January.

AMINU (2012) investigated the relationship between unemployment and inflation in Nigeria economy between 1977 and 2009. The results indicate that inflation had a negative impact on unemployment. The causality test reveals that there is no causation between unemployment and inflation in Nigeria during the period of study and a long-run relationship exists between them as confirmed by the co- integration test.

Unemployment is a very important problem that it is not only an economic issue, but it is related to the social and political issues. Increasing the level of unemployment will decrease the level of Keynes’ effective demand that is going to increase the investors’ uncertainty and less investments will take place. As a result, the economy as a whole will move from recession to depression and the unemployment is dramatically increasing. On the other hand, unemployment has a direct impact on society in a variety of negative ways. A lot of studies found that the level of crimes and drug users is high among unemployment citizens. The unemployed may consider crime as an alternative path to earn money. Finally, the high level of unemployment, in most cases, could lead to instability in the political system due to protest against the existing political system. In conclusion, unemployment is a complex issue that needs a lot of work to solve it.

There is a significant decline in the standard of living of the people, based on available evidence. Despite government effort at raising the standard of living of the people through industrialization all the efforts have proved abortive, hence the need for this research. It is therefore crucial to unravel through this research work if there is a relationship between the declining standard of living and lack of the spirit of hard work among the Nigerian

According to economists, employment and unemployment results when the supply and demand for human resources or labour is out of balance. Supply and demand are influenced by a range of forces that are the result of the interaction of economic, structural and policy factors.