UNEMPLOYMENT AND THE LABOUR MARKET

Am back from Exams short break, although am not done with my Exams, remain only one paper that the prolong it to 20^th of these mouth. Use these medium to thanks all friends that sent well wish message via some among the social networks (2go, twitter and face book).Is of necessity to write on the above tittle, unemployment is just any resource that is not fully utilized but in these piece am referring to human resource precisely ‘THE YOUTH’. Man most work in other to survive and he has noting but his labour power, which here by submits his power to the market, in search of his daily bread.

Nigeria has almost 163 million population according to population census(2004).70% of the population are below the age of 40 years, therefore apart from oil and other natural resources Nigeria has youthful and productive population. The disturbing trend in youth transformation in Nigeria is unemployment. According to the Federal Ministry of youth Development in an Administrative record shown that Nigeria generate about 4.5 million new entrant into the labour market annually and the labour market is often able to absorb only 10% and therefore living about 4 million people who are either unemployed or underemployed. This lead to many social vices and crisis across the federation which include armed robbery, political thuggery, and other act of terrorisms.

It is obvious that youth unemployment crisis has substantially contributed to the nation high poverty incidence currently estimated that about 54.4% large number of the population living in abject poverty, because of growing divergence between economic growth(GDP),poor quality  of education,traning and skill development.Meanwhile,Mr president  as part his transformation Agenda, vow to provide employment to the youth. Also during the campaign of fuel subsidy removal, the ministers of finance miss Ngozi Iweala emphasis that, if subsidy is removed, thousands of job oppoturenities would be created for Nigerians.

For instance, it is unfair for student to spent four-seven years in any institution of learning to graduate and yet no JOB!.Since,they have removed the subsidy, let us drawn back and watch the movie of subsidy re-investment and empowerments  Programme(SURE-P) produce and directed by international monitory funds(IMF)