The Effect of Economic Growth on Unemployment Reduction in Nigeria
AbstractThe paper evaluated the effect of economic growth on unemployment reduction in Nigeria. Data were collected from CBN statistical bulletin and World Bank for twenty five (25) years. Ordinary least square regression was used to analyze the data after stationarizing it through Augumented Dicky Fuller (ADF) unit root test. The findings show that gross domestic product (GDP), gross national product (GNP) and per capita income (PCI) have no significant effect on unemployment reduction in Nigeria. Based on the findings, we therefore recommend that there should be creation of jobs for unemployed, some amount of money paid to the unemployed on monthly basis, free education to the disabled and poor people in Nigeria to better the life, wealthy people should invest in our country to avoid capital flight, all the abandoned manufacturing and productive industries should be fixed, investment in agriculture should be given priority to ensure mass employment etc.Key words: Unemployment index, Gross domestic product, Gross national product, Per capita income
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