Friday, December 3, 2021

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Nigeria, South Africa top global unemployment rates – Report

Nigeria has the third highest unemployment rate at 33.3 per cent, while South Africa has the highest rate among a list of 82 countries, Bloomberg reported on Tuesday.

According to the Bloomberg report, South Africa’s unemployment rate rose to 34.4 per cent in the second quarter from 32.6 per cent.

Namibia has the second highest unemployment rate rises at 33.4 per cent, the report said.

Jordan occupied the spot at 25.0 per cent, with Costa Rica appearing as the fifth nation with an unemployment rate of 18.1 per cent.

According to the report, the median of three economists’ estimates in a survey was 33.2 per cent.

Nigeria, with a population of over 200 million, has about 110 million people living below the poverty line.

A 2018 United Nations report described the West African nation as the poverty capital of the world.

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