THE IMPACT OF UNEMPLOYMENT ON ECONOMIC GROWTH IN NIGERIA (1970-2010)

ABSTRACT

The

term unemployment can be defined as an economics condition marked by the fact

that individual actively seeking jobs remain unhired. Unemployment is expressed

as a percentage of the total available work force. The level of unemployment

varies with economics conditions and other circumstances. This is mostly seen

in graduate of various institutions of learning especially in under developed

nations like Nigeria. The study was designed to investigate the impact of

unemployment on economics growth in Nigeria of 41 years (1970-2010). The

research focuses on determining the cause and impacts of unemployment, and how

the problem of unemployment in Nigeria will be reduced, to a minimal level or

even eradicated. It focuses on this objective is toa determine the relationship

between unemployment and economic growth in Nigeria (GDP). The method of

analysis used in testing the hypothesis is the hypothesis is the T-test, F-test

etc. the major findings was that unemployment has a negative impact on the

gross domestic product (GDP) of the Nigeria economy. Some suggestions and

policy recommendations were made based on the findings.