Unemployment: A Menace to National Economy

Abstract

The rate at which unemployment in Nigeria increases in this 21st century is alarming. The rates keep on increasing with less effort to cushion the effects on the part of all. Hence, this paper examines the menace of unemployment on the national economy and its social implications. The study employed a descriptive survey research design. The population of the study comprised of all unemployed Nigerian graduates in all the six states of southwest geo-political zones of Nigeria Tertiary Institutions, namely: Ekiti, Lagos, Ogun, Ondo, Osun and Oyo states.  A Uniform number of one hundred and eighty (180) respondents were selected from the three strata of the population namely the University, Polytechnics and colleges of education unemployed graduates using reasonable stratified random sampling technique. Each stratum having a number of one hundred and eighty (180) respondents gave a total of five hundred and forty (540) respondents for this study.  Questionnaire was the research tool used for this study. Two Research questions were generated for the study.  A structured questionnaire based on 4-point Likert-type rating scale was used to gather data from the respondents.  The research questions were analyzed with mean ratings and standard deviation.  Findings revealed that unemployment has a great effect on national economy. The study therefore, recommends urgent intervention of all stake holders in the sensitive sectors of the economy.

Keywords: Unemployment; National-Economic