Vol 12 Iss 2 Cover

RELATIONSHIP BETWEEN UNEMPLOYMENT AND MACROECONOMICS OF NIGERIA

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ABSTRACT
Macroeconomic policies seek to attain optimum and sustainable growth by reducing unemployment rate of a nation. This study assessed the impact of macroeconomics of Nigeria on unemployment. Secondary data of unemployment and economic variables such as GDP, Government final consumption expenditure, Gross fixed capital information, Export and Import were collected from various issues of Central Bank of Nigeria, Statistical Bulletin, National Bureau of Statistics, National Account of Nigeria for the period of 1995 to 2015. Quantitative research methodology involving the use of statistical methods such as descriptive statistics, trend analysis and regression analysis was adopted. The result shows that the between 2003 and 2015, unemployment rate range from 11.9% to 25.3% with a low standard deviation of 5.24, which goes to show that, there was no significant variation in unemployment rate for the 13 years of study. The study further shows that unemployment is negatively related to GDP, GFCE and export, while it is positively associated with GFCF and import. The study concludes that the relationship between macroeconomic and employment needs a systematic approach of analysis in Nigeria, as a result macroeconomic policies should be reviewed urgently

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