EFFECT OF UNEMPLOYMENT ON NIGERIA ECONOMY

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ABSTRACT

The term unemployment can be defined as an economics condition marked by the fact that individual actively seeking jobs remain unhired. Unemployment is expressed as a percentage of the total available work force. The level of unemployment varies with economics conditions and other circumstances. This is mostly seen in graduate of various institutions of learning especially in under developed nations like Nigeria. The study was designed to investigate the impact of unemployment on economics growth in Nigeria of 41 years (1970-2010). The research focuses on determining the cause and impacts of unemployment, and how the problem of unemployment in Nigeria will be reduced, to a minimal level or even eradicated. It focuses on this objective is to determine the relationship between unemployment and economic growth in Nigeria (GDP). The method of analysis used in testing the hypothesis is the hypothesis is the T-test, F-test etc. the major findings was that unemployment has a negative impact on the gross domestic product (GDP) of the Nigeria economy. Some suggestions and policy recommendations were made based on the findings.