Impact of Unemployment on Economic Growth in Nigeria from 1974- 2015

Atiman Kasima Wilson, Mathias Mathew Madu and Amina Bala Usman
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Atiman Kasima Wilson: Department of General Studies, Federal Polytechnic, Bali, Nigeria
Mathias Mathew Madu: Department of Cooperative Economics, Adamawa State Polytechnic, Yola, Nigeria
Amina Bala Usman: Department of General Studies, Federal Polytechnic, Bali, Nigeria

International Journal of Research and Innovation in Social Science, 2022, vol. 6, issue 10, 763-770

Abstract: The study investigated the impact of unemployment on Economic Growth in Nigeria from 1974- 2015. Unemployment has been a monster bedevilling the Nigeria economy for many decades. The objectives of the study includes to examine the trend of unemployment from 1974-2015. The study used secondary data obtained from World Development indicators where the Auto regressive- Distributed Lag (ARDL) was analysed using Eviews 10. The study found Gross Domestic Product- GDP to be positively related to the first and third lagged values and their coefficients significant. The study also adopted the Endogenous growth theory which proves that b economic growth is mainly the result of internal forces. The study found that unemployment has been rising over many decades despite government conscious effort to tackle unemployment. The study further recommended an increase in government funding to boost Micro, Small and Medium enterprises (MSME) in order to reduce unemployment which will further promote economic growth.

Date: 2022
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