Preview

Eeeee

Powerful Essays
Open Document
Open Document
7281 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Eeeee
HIGH RATE OF UNEMPLOYMENT IN NIGERIA: THE CONSEQUENCE ON HUMAN RESOURCE MANAGEMENT

BY

LAWANSON O. I. Ph.D
Department of Economics,
University of Lagos, Nigeria
Tel Nos: 234-1-8935313, 234-802-3193367 HIGH RATE OF UNEMPLOYMENT IN NIGERIA: THE CONSEQUENCE ON HUMAN RESOURCE MANAGEMENT

ABSTRACT
The level of unemployment is a mirror image of the state of a nation’s economy. Unemployment is the most exigent question facing policy makers and governments in recent times. Lack of gainful employment ranked high in the list of socio-political problems confronting Nigeria at present.

In Nigeria, over-dependence of the economy on oil brought a boom in the 1970s while economic recession set in since 1981. The recession has since had a very significant implication for the utilization of the country’s human resources, leading to high level of unemployment. The problem has aggravated in the nation to the extent that many university graduates could not secure jobs, let alone school leavers.

According to the Federal Office of Statistics survey carried out in 1984, graduates from tertiary institutions formed 3.8% of the unemployed persons for urban areas, this rose to 9.9%, 16.5% and 20.8% in 1995, 1996 and 1998 respectively. Information from the survey also shows that out of the present output from the educational system entering the labour market as at 1996 which was 2.8 million, only 0.3 million were absorbed into the labour market.

The problem seems to be two-fold showing both demand and supply side. On the demand side, not only are there inadequate jobs for youths but also the increasing decline in quality of education and training, thus making many youths unemployed. On the supply side, the inability of the government to adequately finance the nation’s educational enterprise has led to deteriorating infrastructural facilities and discouraging personal emoluments for teachers. (Though the situation has improved a



References: Babarinde A. O (2004) The effect of Rising Unemployment on the economic development of Nigeria: 1980-2000, unpublished M.Sc Thesis, Department of Economics, Unilag. Bairoch P. (1976): Urban Unemployment in Development Countries 2nd Impression Geneva ILO 1976. Central Bank of Nigeria (1991): Annual report and Statement of Account, CBN, Lagos Central Bank of Nigeria (2003): Annual report and Statement of Account, CBN, Lagos Central Bank of Nigeria (2005): Statistical Bulletin, vol 16 December 2005, CBN, Lagos Diejomah V Don Patinkin (1949): Involuntary Unemployment and the Keynesian Supply Function. The Economic Journal Vol. 59 pp360-384. Edwards E Federal Office of Statistics (1996) Social economic Profile of Nigeria, FOS, Lagos. Federal Office of Statistics (2005) Annual Abstract of Statistics 2005 Edition, Lagos. International Labour Organization (2000): Current International Recommendations on International labour statistics, 2000 edition, Geneva, Switzerland. Jhingan M. L. (2000): Macroeconomic Theory: Vrinda Publication (P) Ltd. Keynes J. M. (1936): The General Theory of Employment Interest and Money, Macmillan London. Levy V and Newton J Ojegbile G. A. (1986): Unemployment in Nigeria; Magnitude, Causes and Effectual Solution – The Nigerian Economic Society Annual Conference Kaduna May 1986. Ojo F. (1997): Human Resource Management: Theory and Practice, Panaf Publishing, Lagos. Okun A Pigon A. C. (1933): The Theory of Unemployment Macmillan, London. Rama M Todaro M. P. (1989): Economic Development in the Third World. Longman, New York. Todaro M. P. (2000): “A Model of Labour Countries” American Economic Review Vol. 59. Uniamikogbo S.O (1997): ‘ Poverty Alleviation under Structural adjustment in Nigeria’ in Poverty alleviation in Nigeria, The Nigerian Economic Society(NES), Ibadan. Warren R. S. (1983): Labour Market Contact Unanticipated Wage and Employment Growth. American Economic Review June 1983. pp.389-395. Williams (1988): Government Employment Policies and Programming. Yesufu T. M. (2000): The Human Factor in National Development; Nigerian Spectrum Books Ltd, Ibadan.

You May Also Find These Documents Helpful

  • Better Essays

    http://www.helium.com/items/1551000-frictional-unemployment-structural-unemployment-and-cyclical-unemployment (accessed August 7, 2010).Investopedia ULC. Investopedia, National Income Accounting. 2010.http://www.investopedia.com/terms/n/national_income_accounting.asp (accessed August 7, 2010).…

    • 1569 Words
    • 7 Pages
    Better Essays
  • Powerful Essays

    Preston, A., & Jefferson, T. (2009). Labour Market and Wages. Journal Of Industrial Relatons, 51, 313-330.…

    • 3639 Words
    • 15 Pages
    Powerful Essays
  • Good Essays

    Aristocratic marriages in mid-Heian period in “Gossamer Years” depict visiting marriages without formal ceremonies. Politic plays a significant role and men can have multiple wives and concubines. While the nature of aristocratic marriage and family in this period appears peculiar to us; the practices in marriage and family in mid-Heian period are actually more reasonable than it might sounded at first if we approached with the widespread point of view back then.…

    • 689 Words
    • 3 Pages
    Good Essays
  • Satisfactory Essays

    Racial Profiling

    • 643 Words
    • 2 Pages

    Unlike the education system, the economy of Nigeria is evolving. Even though the economy is doing well, the money is not being used to better poor parts of the country. Nigeria is the 8th largest oil exporter in the world. The Gross Domestic Product in Nigeria is 522.6 billion dollars and it continues to rise. Even though the economy is doing well 60 percent of Nigeria’s population lives in extreme poverty. There are also chronic power shortages, which increase cost of doing business in Nigeria up to 40 percent.…

    • 643 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    Histiory

    • 396 Words
    • 2 Pages

    Schenk, Robert. A Case Of Unemployment. Ed. Geoffrey H. Moore. 29 Jan 2012. Business Cycle. 29 January 2012 <http://ingrimayne.com/>.…

    • 396 Words
    • 2 Pages
    Good Essays
  • Good Essays

    Renaissance Man

    • 447 Words
    • 2 Pages

    The Renaissance was a period of big change peasants become more self-sufficient. More and in European history. It was a time of intellectual more serfs gained their freedom and no longer excitement, when art and literature blossomed depended on lords. Some freed serfs migrated…

    • 447 Words
    • 2 Pages
    Good Essays
  • Better Essays

    Nigerian Culture Today

    • 1240 Words
    • 5 Pages

    Bureau of African Affairs. "Gradual Reform." Background Notes: Nigeria. Bureau of African Affairs, 2011. 7. Print.…

    • 1240 Words
    • 5 Pages
    Better Essays
  • Powerful Essays

    Toyota Marketing Mix 4 P's

    • 16321 Words
    • 66 Pages

    The growth pattern of the Nigerian economy has been quite sluggish over the last two decades. This fact is however connected to the highly increasing level of poverty, which is further exacerbated by the pandemic problem of inequality.…

    • 16321 Words
    • 66 Pages
    Powerful Essays
  • Powerful Essays

    Sub-Saharan Africa as a region now has to depend very much on FDI for so many…

    • 1742 Words
    • 7 Pages
    Powerful Essays
  • Powerful Essays

    Unemployment in Ukraine

    • 1353 Words
    • 6 Pages

    Godfrey, Martin (1995). The struggle against unemployment: Medium-term policy options for transitional economies. International Labor Review, 134 (1). Nov. 13, 2004,…

    • 1353 Words
    • 6 Pages
    Powerful Essays
  • Powerful Essays

    26 Topel R (1983), On Layoffs and Unemployment Insurance, American Economic Review 73, 541-559. Topel R (1985), Unemployment and Unemployment Insurance, in R Ehrenberg (ed), Research in Labor Economics, vol 7, JAI Press. Valdivia V (1996), Evaluating the Welfare Benefits of Unemployment Insurance, manuscript, Department of Economics, Northwestern University. Wright R (1986), The Redistributive Roles of Unemployment Insurance and the Dynamics of Voting, Journal of Public Economics 31, 377-399. Yaniv G (1982), Unemployment Insurance Benefits and the Supply of Labor of an Employed Worker, Journal of Public Economics 17, 71-87.…

    • 12148 Words
    • 49 Pages
    Powerful Essays
  • Powerful Essays

    government fiscal deficit through the determination of the inflationtax rate affects both the rate of inflation and the real exchange rate,…

    • 5614 Words
    • 23 Pages
    Powerful Essays
  • Powerful Essays

    References: 1. Adebayo, A., 1999: “Youth Unemployment and National Directorate of Employment, SelfEmployment Programmes. Nigerian Journal of Economics and Social Studies, 41(1): 81-102. Anyawu, J.C., A. Oyefusi, H. Oaikheran and F.A. Dimowo, 1997. The Structure of Nigerian Economy, (1960-1997), Joanee educational publ. Onitsha, Nigeria, 320-358. Englama, A., 2001. “Unemployment: Concepts and Issues. Bullion, 25(4): 1-6. A Publication of Central Bank of Nigeria. International Labour Organisation (ILO, 1982); “R e so lutio n C o nc e rn ing S tatistics of the Economically A ctive Population, Employed, U n e m p l o y e d a n d U n d e r e m p lo y e d ” . 1 3 t h International Conference of Labour Statistician. M alinvalud, E., 1977. “The T heory of Unemployment Reconsidered”. Blackwell, Oxford. Onah, F.E., 2001. Employment Prospect and Training Needs for Self-Employment in Nigeria, pp: 42-55. Otaki, D.A., 2003. “Youth Unemployment in Nigeria: Some Implication for the 3 rd Millenium”. Global Journal of Social Sciences, 2(1): 21-26. Samuelson, P., 1998. Economics, Mc Grain Hull Appendix.…

    • 4078 Words
    • 17 Pages
    Powerful Essays
  • Good Essays

    Ameer Bardien

    • 1172 Words
    • 4 Pages

    Unemployment has scarred South Africa due to the Apartheid era; therefore there was a lack in teaching to the people of specific skillsets that would enable them to do a particular job. According to (Abel Konel, 2009):”Unemployment has a big influence on poverty in South Africa because there are a lot of people that do not work, or are just not trained for a certain job, or they just do not want to work, and then there are the people that are trained but can 't find a job because of the unemployment rate in South Africa. That is why there is a lot poverty in South Africa because there are more than half of the citizens that do not work by not working or receiving an income the poverty in South Africa will keep increasing.”…

    • 1172 Words
    • 4 Pages
    Good Essays
  • Powerful Essays

    This article overviews the growth and development of the Nigerian economy from inde pendence to present times. Specifically, the following periods are discussed: the pro-oil boom decade (1960-70); the period of the oil boom (1971 1977); the period of stabilisation and structural adjustment (1986 - 1993) and the period of guided deregulation (1994 -1998).GENERAL PERFORMANCE OF THE ECONOMY…

    • 4639 Words
    • 19 Pages
    Powerful Essays

Related Topics