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The Impact Of Unemployment On Economic Growth In Nigeria. (1982-2010)
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1.5 Scope and Limitation of the Study
The
focus is on the impact of unemployment and economic growth is derived
from the advanced economic right for its original version of Taylor’s
curve to Okon’s law in the US. From the above analysis, much of the work
that focus on the developing countries especially in Nigeria have
differed considerably in their methods logical approach while
econometric approach that spine from (1960 – 2000).
According to
Ayenwales Investigation (2005) the main focus of his investigation is
based on sectoral government expenditure and unemployment which can be
seen that little or more information have been provided by the studies
on the supposed relationship, if there exist between economic growth and
unemployment especially during this reform period. This forms a point
of departure for this present study as the scope will include 1981 –
2006. The present study will then focus the relationship between
unemployment and output growth to determine using a tripartite ordinary
least square method which differ from the studies given the fact that
economic reforms that has taken place from 1990 till now have
significance effect both on unemployment and output and as such effect
their supposed relationship etc. Many economist use annual data to find
that unemployment create impact in output growth which this will look at
using time series data in regression analysis that range between 1981 –
2006.
It was observed that the recorded figure for unemployment
significantly understated the number of the existing labour force who is
actually willing to work at the existing set of wage range. This can be
attributed to the method of registration which bears no incentives of
success in provision of job rather lost. Enghama (2001) said that people
without job and looking for work are many but have not bothered to
register as unemployed. This people will be included in the official
statistics for registered unemployed labour force. Yet from an economics
view point, such people are in the labour force and unemployed. This
explains why the official statistics released by the Federal Office of
Statistic (FOS) presented low rate of unemployment based on this
analysis, one can see that unemployment is daused due to the rate of
population of the country that is faster than job opportunities. Due to
the population of every economy is divided into two categories. The
economically active and the economic for work refers to the population
that are willing and able to unemployed. While the economically inactive
population refers to people who are neither working nor looking for
jobs, example include full time student, invalids, housewives.
The
legal age for work, old and retired persons; from this present work, one
can see that unemploym[ent is due to gross mismanagement, excess
spending and adverse policies of government of Nigeria.
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ABSRACT - [ Total Page(s): 1 ]The term ‘unemployment’ can be defined as an economic condition marked by the fact that individuals actively seeking for job remain unemployed. Unemployment is very common in under-developed nations like Nigeria and it affects graduates of various institutions of learning. The study was designed to investigate the impact of unemployment on economic growth in Nigeria for the period of 29 years (1982 – 2010). The focus of the research was to determine the cause and impacts of u ... Continue reading---
