Nigeria has topped the list of countries with the highest rate of unemployment according to recent statistics released by the World of Statistics.
Nigeria is leading with 33 per cent followed by another African country, South Africa 32%, Iran 14%, Spain 13.2% and Morocco 11.8%, making the top five.
The lowest rate of unemployment are countries like Vietnam: 2.25%, Switzerland: 2%, Singapore: 1.8%, Thailand: 1.1% and Qatar: 0.1%.
According to the National Bureau of Statistics, NBS, the unemployment rate in Nigeria increased to 33.30 per cent in the fourth quarter of 2020 from 27.10 per cent in the second quarter of 2020.
Meanwhile, in a more recent report, a multinational consulting firm, KPMG stated that the Nigerian unemployment rate had increased to 37.7per cent in 2022 and will further rise to 40.6per cent.
KPMG said this was because of the continuing inflow of job seekers into the job market.
See full list:
Nigeria: 33.3%
South Africa: 32.7%
Iraq: 14.2%
Spain: 13.2%
Morocco: 11.8%
Greece: 11.4%
Turkey: 10%
Brazil: 8.8%
Italy: 8%
India: 7.8%
France: 7.2%
Pakistan: 6.5%
Portugal: 6.5%
Argentina: 6.3%
Indonesia: 5.8%
Belgium: 5.8%
Germany: 5.6%
China: 5.3% Bangladesh: 5.2%
Canada: 5%
Saudi Arabia: 4.8%
Israel: 3.9%
United Kingdom: 3.8% United States: 3.5%
Malaysia: 3.5%
Russia: 3.5%
Netherlands: 3.5%
Australia: 3.5%
Japan: 2.8%
South Korea: 2.7%
Mexico: 2.7%
Vietnam: 2.25%
Switzerland: 2%
Singapore: 1.8%
Thailand: 1.1%
Qatar: 0.1%
Comments