ATTENTION:
BEFORE YOU READ THE
PROJECT WORK, PLEASE READ THE INFORMATION BELOW. THANK YOU!
TO GET THE FULL
PROJECT FOR THE TOPIC BELOW PLEASE CALL:
08068231953,
08168759420
TO GET MORE PROJECT
TOPICS IN YOUR DEPARTMENT, PLEASE VISIT:
EFFECT
OF UNEMPLOYMENT ON ECONOMIC GROWTH IN NIGERIA (1980 – 2011)
ABSTRACT
It
is an established economic reality that the size of the workforce directly
impacts on a country’s GDP (growth). Not only does the work force produce
manufactured goods or services or agricultural produce in direct proportion,
but also brings in its wake increasing purchasing power, which in turn, fuels
economic growth. This paper looks at the relationship between unemployment and
growth in Nigeria (1985-2009). One major findings of the study is that the
economy grew by 55.5 percent between 1991 and 2006; and the population
increased by 36.4 percent. All things been equal, this should have resulted to
a decrease in the rate of unemployment but rather, unemployment increased by
74.8 percent. The study also found out that the average contribution of the oil
sector to the GDP between 1991 and 2006 is 30.5 percent while agriculture that
is the main source of gainful employment in the country contributed 36.7
percent just a difference of 6.1 percent from that of oil that employs less
than 10 percent of the labour force. The study recommends that the agricultural
sector as a medium of reducing unemployment in Nigeria should be harnessed and
advises that Government and all relevant stakeholders continue in their quest
towards reducing unemployment, as well as give their support in ensuring that
the agricultural sector is not downtrodden but embraced in this task.
TABLE OF CONTENTS
Chapter One:
Introduction
1.1 Background of the study
1.2 Statement of
problem
1.3 Objectives of the
study
1.4 Significance of the study
1.5 Research Question
1.6 Research Hypothesis
1.6 Scope and limitation of the
study
1.7
Detritions of Terms
References
Chapter Two:
Literature Review
2.1
Theoretical Framework
2.2
Empirical Framework
2.3
Limitation of the Previous Study
Reference
Chapter Three:
Research Design and Methodology
3.1 Research Methodology
3.2 Model
Specification
3.3 Method of Evaluation
3.2 Decision
Rule
3.5 Data Required and Sources
Reference
Chapter Four:
Presentation and Analysis of Result
4.1 The Empirical
Results
4.2 Statistical test of
Significance
4.3 Evaluation of the Working
Hypothesis
Chapter Five: Summary
of Findings, Conclusion
and Recommendation
5.1 Summary of the Finding
5.2
Conclusion
5.3
Recommendations
Bibliography
CHAPTER ONE
INTRODUCTION
1.1
Background of the Study
One of the greatest
challenges facing the Nigeria economy is unemployment which has maintained a
rising trend over the years. The total labour force in Nigeria is made up of
all persons aged 15-64 years excluding students, home keepers, retired persons
and stay-at-home to work or not interested. Unemployment in Nigeria is defined
as the proportion of labour force that was available for work but did not work
in the week proceeding the survey period for at least 39hours. Official figures
from the Bureau of Statistics puts the figure of unemployed at 19.70 per cent,
about 30 million, but this figure still did not include about 40 million other
Nigerian youths captured in World Bank statistics in 2009. By implication, it
means that if Nigeria’s population is 140 million, then 50 percent of Nigerians
are unemployed. Viewing this from the perceptive of the recent events in the
Middle East where unemployment and poverty among others played a key role in
the uprising, one can only conclude that Nigeria’s unemployment poses a threat
to its development, security and peaceful co-existence, being that Nigeria is
made up of diverse entities from different cultural and religious backgrounds
most of whom have shown differences in political, cultural and religious
understanding and accommodation emanating from concerns of abuse of power,
resource allocation, nepotism, negligence and corruption among others.
According to Bello (2003) from time
immemorial, the subject of unemployment has always been an issue of great
concern to the economists, policy makers and economic managers alike; giving
the devastating effect of this phenomenon on individuals, the society and the
economy at large. The classical school of thought that provided the earliest
thinking on economic issues did not fail
1.2
Statement Of Problems
Anyaele (1995:214)
stated that the problem has become continually without solution being in sight
it has constituted itself into one of the worst enemies of the populace in this
part of the world. That the problem unemployment has been exacerbated by the
previous and retrenchments unbridle rural urban migrate. Etc.
Unemployment is a
great problem associated with both rural and urban communities of the Nigeria
economy it results to the following problems to Nigeria.
A)
Threat to peace: The unemployed Constituted available book for political
troubles shooters in a Country.
B)
Escalation of Crime Rate: An idle mind they say is the devils workshop, and as
a result of this many unemployed youths and able bodies men and women engages
themselves in crime such as armed robbery, prostitution, etc in order to earn
living.
C)
It causes migration: this is to move from one place to go and live or work in
another place. This can be rural urban or from one Country to another which
creates vacuum in a nation march to economic and social development.
D)
Waste of Manpower: Unemployment especially that of graduates waste the much
needed manpower which delays the economic development of the nation Nigeria.
E)
Increase in dependants: The unemployment people increase the number of
dependants and contribute in sapling the income of their families instead of
contributing to them.
F)
Reduction
in Investment: the money spent in educating the unemployed and the once spent
in them as depredates should have been invested in one
1.
3
Objectives of the Study
The purpose of this study is contribute
in any meaningful way to the idea of how the growing rate of unemployment among
young people in Our Society can be deal with, so that its ugly effects can be
reduced at least to minimal. The problem caused by unemployment in Our
Society is not far-fetched.
1.
To evaluate the nature of relationship between unemployment and economic
growth.
2.
To determine the effect of unemployment in the Nigeria Economy.
3.
To offer some recommendations based on the findings of the study.
1.4 Research
Hypothesis
H0: Unemployment
Rate has no significant impact on Economic Growth in Nigeria.
H1: Unemployment
Rate has significant impact on Economic Growth in Nigeria.
1.4
Significance of the Study
Owing to the down
turn in the economic fortunes of this country over the years, the Nigerians
have lost their pride of place. Their status in the society has continued to
dwindle.
Today, it is sheer
mirage for fresh graduates to dream of the good things of life. They are made
to understand and accept that the graduates, unemployment should be seen as a
passing phase in the history of the nation. It is very doubtful if the much
desired change in the near future will bring us anything.
Therefore, this study
is aimed at showing how these effects of unemployment have on economic growth
in Nigeria Economy.
It is desirable to
create a new forum in which the government plays a dominant role and actively
promotes private enterprises, establishes new enterprises with a centrally
directed mobilization of resources towards the definite objectives of solving
these problem.
1.5
Research Question
1. What are the
course of unemployment in Nigeria?
2. What are the
economic effect in the economy?
3. What factors
contribute most the problem of unemployment?
4. What
will be the possible solution to unemployment ravaging Nigeria?
1.6
Research Hypothesis
Hi:
Unemployment is Cause by Inefficiency use of our National Resource
H0:
Unemployment is not Cause by Inefficiency use of our National Resource.
1.8 Definition
of important terms.
In this aspect we are
concerned with the types of unemployment in Nigeria economy, they are as
follows: -
a)
Frictional Unemployment: -
This type of unemployment
arises when people leave their present job with hope of getting another one or
a new one, but fails at that time. It may or may not be a temporary
unemployment depending on the prevailing economic situation.
Therefore frictional
unemployment is the period between the worker left his former work and the time
of getting a new job or work.
b)
Seasonal Unemployment
This type of
unemployment is caused by seasonal change that affect some types of work, for
example workers that work in road construction companies remain unemployed
during raining season.
On the same hand
farmers stay idle during the time in between harvesting and planting periods.
c)
Search Unemployment
This type of
unemployment occurs when some people turn down offer of work in search of
better-paid employment. How long this search will last depend on he
prevailing economic situation in the Country.
d)
Structural Unemployment:
Unemployment is as a
result of slight change in the Industries structure of a country, workers will
be retrenched as a result. This is causal by economic recession and it happened
in Nigeria in 1984 when firms folded up as a result of this.
e)
Voluntary Unemployment
This type of
unemployment undecorated occurs when some people refuse to take up any paid
employment. That is to say that they voluntarily decide not take up any paid
employment for example some husband may order their wives not to do any type of
work but to stay at home as full time house wives.
f)
Deficient Demand (Cyclical) unemployment:
This type of
unemployment occurs when there is decrease in the quantity of goods demanded or
there is over production, which result to fall in prices. Industries will
be affected and the may cause lay off of workers of the Industries that are
affected.
g)
Under Employment: -
This type of
employment result when a workers potential is under utilized or when a worker
is paid less than the effort puts on the job. E.g. A graduate doing the work of
a cleaner
AFFILIATE LINKS:
Comments
Post a Comment