African countries feature prominently as the latest data reveals countries with the highest youth unemployment rate in the world.Information Guide Nigeria
LEGIT.NG reports that as the global economy battles with the fallout of the COVID-19 pandemic, the unemployment rate has spiked to an all-time high, even among developed economies.
A recent Index shows that South Africa has the highest youth unemployment rate in the world, with 52.8% of its youth population being unemployed.
As reported by LEGIT.NG, South Africa is followed by Greece at 36.8%, Spain at 34.9%, Nigeria at 33.1%, and Italy at 52.5%.NYSC Portal
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According to the National Bureau of Statistics, Nigerian youths are some of the worst affected by unemployment, with about 13.9 million unemployed young people.
Apart from lacking educational qualifications and skills needed for the labor market, Nigeria has witnessed an economic slump, an unequal growth rate, an unmotivated youth populace, and gender imbalance.Experts have said the absence of jobs in Nigeria is the reason for the high crime rate in Nigeria.
Meanwhile, a report by Statista reveals that South Africa has seen about a 30% rise in general unemployment among its citizens.
Augustine Anibogu, an economist and social commentator, said in a chat with Legit.ng that Nigeria should rise and tame the high youth unemployment in the country. “The recent crime wave in Nigeria is nothing but the fallout of high unemployment among youth. It is a ticking time bomb that is still unraveling and could be tamed by creating jobs and soft skills for them,” Anibogu stated.
According to LEGIT.NG, the rise in inflation has been blamed on the surging rising energy costs which have seen the cost of commodities surge since February the war in Ukraine began. It added that the worst hit is less economically developed countries, especially in Africa.JAMB Result
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