Unemployment Rate in Nigeria increased to 23.10 percent in the third quarter of 2018 from 22.70 percent in the second quarter of 2018. Unemployment Rate in Nigeria averaged 12.31 percent from 2006 until 2018, reaching an all time high of 23.10 percent in the third quarter of 2018 and a record low of 5.10 percent in the fourth quarter of 2010.
Unemployment Rate in Nigeria is expected to be 25.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Unemployment Rate in Nigeria to stand at 27.60 in 12 months time. In the long-term, the Nigeria Unemployment Rate is projected to trend around 30.00 percent in 2020, according to our econometric models.