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The Impact Of Unemployment On Economic Growth In Nigeria. (1982-2010)
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This shows that Nigeria’s unemployment problem has
become chronic and intractable and should be a matter of utmost national
concern. Government uses employment and wages policies in measuring
government revenue and influence in the labour market, either as a
specific objective in itself or as a means of achieving some other
national objectives.
The measures include legislative provisions,
administrative actions or the rigor with which existing regulations are
implemented. Government also adopted wage policies to achieve such
macro-economic objective as a growth, internal and external balance,
full employment or a redistribution of income. Economists are generally
in agreement that the overall aim of government employment policies is
to empower the people and guarantee a minimum quantity of life through
gainful employment. The promotion of gainful employment and stemming the
rising rate of rural and urban unemployment have always been the
allowed national objectives of successive governments in Nigeria, as
various national development plans have articulated. The strategy
adopted for the realization of these objectives have been the promotion
of formal employment, through job-creation in the public sector and to
some extent in the private sector as well, etc. thus, very little
attention has been paid to self employment or self-employment schemes.
Indeed, not until in the last 1980s, when Nigeria began to experience a
deep recession and had to adopt the Structural Adjustment Programmes
(SAP) was any thought given to self employment schemes. Thus, it would
be fair to say that Nigeria’s employment policies have been anchored
mainly on the desire to guarantee wage income to her citizen, through
formal job creation measures, etc.
1.3 Objective of the Study
The objectives of the study are as follows:
1. To determine the relationship between unemployment and economic growth in Nigeria.
2. To ascertain the magnitude of this relationship.
Statement of Hypothesis
The hypothesis that would guide this work is as follows:
1. H0: Unemployment has no significant impact on the economic growth in Nigeria.
2. H1: Unemployment has significant impact on the economic growth in Nigeria.
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ABSRACT - [ Total Page(s): 1 ]The term ‘unemployment’ can be defined as an economic condition marked by the fact that individuals actively seeking for job remain unemployed. Unemployment is very common in under-developed nations like Nigeria and it affects graduates of various institutions of learning. The study was designed to investigate the impact of unemployment on economic growth in Nigeria for the period of 29 years (1982 – 2010). The focus of the research was to determine the cause and impacts of u ... Continue reading---
