TO GET THE COMPLETE JOURNAL/THESIS FOR TOPIC BELOW,
CALL: 08168759420, 08068231953
WHATSAPP: 08137701720
UNEMPLOYMENT RATE AND ECONOMIC GROWTH IN NIGERIA: AN EMPIRICAL ANALYSIS, 1980– 2016
Abstract
This study investigates the impact of unemployment on economic growth in Nigeria using the OLS multiple regression analytical method in analyzing annual time series secondary data obtained from the Central Bank of Nigeria, statistical abstract from National Bureau of Statistics, as well as the World Development Indicators from the period 1980 – 2016. This study established that unemployment, population and labour force have significant impact on Nigeria’s economic growth, while minimum wage does not have a significant impact on the country’s economic growth. The underlying principle for such a result is rooted in the Keynesian theory of unemployment which is applicable to the Nigerian economy that is trying to come out from the economic recession. Based on this, the following recommendations were proffered: the government should ensure there is job creation in the economy especially in the real sector; private sector employers should be given subsidies so as to encourage them to employ more people; and the labour market should be deregulated.
Keywords: Unemployment, Labour Force, Economic Growth, Minimum Wage, Population, Job Creation