Abstract
Unemployment is a major macroeconomic malaise in Nigeria. It has been high and rising over the years across dictatorship, democratic, administrative, and economic regimes. In the process sectoral employment transitioned from the productive sectors of agriculture and manufacturing to services sectors of trade and services and administration sectors of the economy. This study examined the patterns of unemployment and the transitioning of sectoral employment during the economic growth period between 1981 and 2014.It concluded that, despite the fact that economic growth was a common factor, unemployment worsened during democracy, and more so under the Yar’Adua / Jonathan administration. Unemployment was best managed under the military, ironically, and better under the Obasanjo administration, respectively.
Highlights
The escalating problem of unemployment has remained intractable in Nigeria
This study examined the patterns of unemployment and the transitioning of sectoral employment during the economic growth period between 1981 and 2014
The objectives of Structural Adjustment Program (SAP) were to restructure the fundamentals of the macro economy of Nigeria in line with market forces with the hope to engender privatisation, diversification, commercialisation, growth, improve balance of trade and payment and moderate inflation, with little attention to the employment or unemployment impact
Summary
The escalating problem of unemployment has remained intractable in Nigeria. Military and civilians alike, have applied various measures aimed at stimulating employment among the various macroeconomic aggregates. These regimes could be classified broadly as military or civilian (democracy) or pre-SAP and post-SAP eras. SAP means structural adjustment programme, originally midwifed by the World Bank/IMF (International Monetary Fund) Group in 1986. The objectives of SAP were to restructure the fundamentals of the macro economy of Nigeria in line with market forces with the hope to engender privatisation, diversification, commercialisation, growth, improve balance of trade and payment and moderate inflation, with little attention to the employment or unemployment impact. The policies of SAP that was originally supposed to be for two years, between July 1, 1986 and June 30, 1988, were extended and modified over the years
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