The national bureau of statistics reveals that Imo state, which is located in the South-eastern part of Nigeria has the highest unemployment rate in the country. In contrast, the Anambra state is the state with the least unemployment rate with 13.1%. The national average for unemployment is 27.1%.
Imo state has an unemployment rate of 48.7% in the second half of 2020, it is by far the highest rate this country has ever experienced. That is because of the fact that most of the people are unemployed or underemployed. The number of people who can’t find a job is 2.48 million. Only 618,481 people have a job and almost 656,394 people are underemployed.
Imo state is a civil service town where there have been many unlucky governors over the two decades. This city was never famous for good events and things there. The children are kidnapped and the murderers are still walking in the streets. The government is trying to make things better but sadly their reforms are too slow.
Nigeria is trying to better the situation in the country and economic development is mostly done with trading. Only FX traders current positions worth $1.25 million. Investors in this country are really trying to make the best from trading and what it can give to them.
Since trading is most popular among investors, it goes without saying that people are receiving a big amount of money from this field. Nigeria benefits from its trading as much as it is possible for now. For the future, things are going forward and people are trying to be more aware of this online trading system.
In recent years Uganda is trying to receive as many investors as they can and they are really going through this COVID-19 crisis very well. More and more people would like to find brokers for forex trading in Uganda for 2021 because the country is getting more welcoming to foreign trades, which accounts for 48.2% of the World bank volume.
Why is unemployment high in Imo?
Imo is top in unemployment because most of the people who are finishing their studies don’t have any opportunity to find a proper job in their fields. For example, every year there are 4000 people who are graduating and the state only has to offer 500 job places to them. The demand is very high and the workplaces are very low in amount.
This is a huge problem in the state and the government needs to pay more attention to it. First, it needs to go back to cottage industries across the state and the region. Cottage industries are for people who have low skills and there are second, high-end hubs for the people who have high skills. The government needs to focus on stable and democratic ways to take care of the people in their own unique way.
21.7 millions of Nigerians are unemployed
21.7 million people are searching for jobs in Nigeria. This rate is 3 times more than it was 5 years ago. This job crisis does not exist in a vacuum. This is very devastating news because it means that nearly half of the population is unemployed. People’s quality of life is getting very low because most of them are very poor. People within the ages of 15 and 64 ate willing to work in different industries but there are literally no places for them. The government is talking about how they will make things work but they are developing very slowly. People are already searching for ways to make their lives better. That is why trading is getting more and more popular in that region and most of the young people are very interested in learning all the tactics and ways of making online money.
People are tired of being unemployed. One of the two people in Nigeria is unemployed or underemployed. And some think that the worse days are still ahead because the jobs and economic opportunities are nearly disappearing.
The world’s bank predicts Nigeria’s failing economy is the worst in the last 40 years, Nigeria has a crisis already because of the global oil economy. Nigeria has already overlook India as the country with most people in extreme poverty.