Impact Of Unemployment In Nigeria

1145 Words5 Pages
Unemployment is one of the developmental problems that face every developing economy in the 21IST century. International statistics portrays that industrial and service workers living in developing regions account for about two-thirds of the unemployed. (Patterson et al, 2006). Being without a job is indeed an enforced idleness of wage earners who are able and enthusiastic to work but cannot find jobs. In societies in which most people earn a living only by working for others, being unable to find a job is a serious problem. Because of its human costs in deprivation, feeling of rejection and personal failure, the extent of unemployment is widely used as a measure of peoples ' welfare. The proportion of workers unemployed shows how well a nation 's human resources are used and serves as an index of economic movement. Unemployment has call for a greater concern in the Nigeria economy. It has continued to be the major macroeconomic objectives of the government, it constitutes series of serious developmental problems and is increasingly more serious all over Nigeria. Major policy of the government is targeted at reducing the rate of unemployment.
The issue of unemployment in Nigeria can be traced back to the 1980’s. Nigerian economy since the attainment of political independence in 1960 has undergone fundamental structural changes. The domestic structural shifts have however not resulted in any significant and sustainable
Open Document