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The Impact Of Unemployment On Nigerian Economy (1980-2010)
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Unemployment according to lipsey (1963:456) brings about economic waste
and cause human suffering. According to Fadayomi, 1992, Osinubi, 2006,
unemployment is as a result of the inability to develop and utilize the
nations manpower resources effectively especially in the rural sector.
The
socio-economic effect of unemployment includes: fall in national
output, increase in rural-urban migration, waste of human resources,
high rate of dependency ratio, poverty, depression, frustration, all
sorts of immoral acts and criminal behaviour e.g prostitution, armed
robbery e.t.c. The social effect of unemployment brings to light the
need to proffer possible solution to salvage our nation Nigeria
1.2 STATEMENT OF THE PROBLEM
Working
with the data from the national bureau of statistics, it indicates that
the national unemployment rate in the first quarter of 2007 was 14.6%,
compared with 13.7% in 2006. The urban and rural rates were 14.4% and
15.0% respectively compared with 10.2% and 14.8% in 2006. Further
analysis showed that the distribution of unemployment ranged from
14.1%vfor the age group of 25-44 to 23.5% for the age group of 65-70.
Desegregation according to geopolitical zones showed a very uneven
distribution with the south-south zone having the highest unemployment
rate of 29.5% and south-west at the rear with 8.5%. Between these
extremes were the north-east with 18.5%, south-east 18.1%, north central
15.8% and north-west 14.2%.
It is based on the increasing problem
posed by unemployment on individuals and the nation at large that
government has been embarking on various policies to control and reduce
unemployment but yet has not yielded any positive result, rather it
seems to be escalating. Drastic measures must be taken by government to
curtail this problem of unemployment. The statement of problem is based
on the economic, social and political effects of unemployment
1.3 RESEARCH QUESTIONS.
1. Is there any relationship between unemployment and economic growth?
2. Do unemployment have any significant impact on economic growth?
1.4 OBJECTIVE OF THE STUDY
1. To determine the relationship between unemployment and economic growth in Nigeria
1.5 RESEARCH HYPOTHESIS
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ABSRACT - [ Total Page(s): 1 ]The term unemployment can be defined as a situation whereby those who are willing and able to work do not find job. This is mostly seen among greduates of various institutions of learning especially in underdeveloped nation like Nigeria. The study was designed to investigate the impact on unemployment on Nigeria economy (1980-2010). The research focuses on determining the causes and effects of unemployment and how the problem of unemployment in Nigeria will be reduced to a minimal level or even ... Continue reading---
