Pressure on disposable incomes as unemployment doubles | The Guardian Nigeria News

31


• Only 46.4 million Nigerians with jobs
• OPS seek definitive action as inflation compounds household woes

It’s double trouble for most Nigerian families, having to cope with the increasing number of dependents amid constant struggles with stagnant earnings and dwindling fortunes now punctured by rising inflation.

Findings have shown that the number of dependents in the country is on a steady rise on the back of high population, and more recently, unemployment rates, mounting pressure on disposable incomes and limiting the impact of government’s intervention in the economy.

Already, rising inflation, especially that of food, is putting pressure on the already stressed household incomes, leaving many homes with little savings and capacity to absorb new shocks.

Out of the 122,049,400 economically active or working age population (15 – 64 years of age) as at Q4, 2020, based on recent data from the National Bureau of Statistics (NBS), only 46,488,079 people are in employment…



Source: Guardian Newspaper