Impact Of Population Growth On Unemployment In Nigeria

ABSTRACT

This research’s main objective is to study the dynamic relationship between population growth and unemployment in Nigeria. The study is of utmost importance as it addresses a strategic aspect of the economy and also considering the fact that the country has been experiencing a slow growth rate and a severe decline in development. A regression model is used to describe the statistical relationship between population growth and unemployment. It is hypothesized that population growth has a strong impact on unemployment in Nigeria. It is assumed that a positive relationship exists between population growth and unemployment. A highly significant result was obtained after a simple regression was carried out which shows that population plays a role in the rise of unemployment in Nigeria which implies that a rise in population growth leads to a rise in unemployment. Many reasons have been attributed as to why population growth is on the rise and how it proportionately affects unemployment. The major reasons for a rise in population include increase in birth rate, socio-cultural beliefs and improvement in welfare and medical facilities. Although the positive effects of population cannot be overlooked, it is also important to note that its negative effects highly outweigh its positives. When there is high population, the country tends to exceed its carrying capacity, which means that the country can no longer support its large population in terms of resources as well as job opportunities. The problem of unemployment is very alarming and demands urgent attention and solutions as its effects are very severe. Some of its effect include; increase in income inequality, rise in criminal activities like Boko-Haram and decline in the general standard of living. It is expected that everyone on all grounds including individuals, agencies and government to take a stand and play important roles in stabilizing population growth as well as minimizing unemployment in the country in order to improve the country’s growth and development on all grounds.