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Pyrex Journal of Business and Finance Management Research

December 2016 Vol. 2(10), pp. 180-195

ISSN: 2985-8860

Copyright 2016 Pyrex Journals




Full Length Research Paper


Impact of Unemployment on Economic Growth in Nigeria 1980 - 2010


Hauwa Buba Jajere

Kaduna State University, Kaduna, Nigeria.

Corresponding Author E-mail: hauwabuba@gmail.com

Accepted 23rd December, 2016



Abstract


This research work focused on the Effect of Unemployment on Economic Growth in Nigeria modeling Gross Domestic Product (GDP) against Unemployment rate, Government Expenditure and Money supply between 1980 2010. The research make use of Ordinary Least Square regression technique, the result shows that unemployment does not significantly affect economic growth, but a good performance of an economy in terms of per capita growth may therefore be attributed to the other factors affecting economic growth in the country. A major policy implication of this result is that concerted effort should be made by policy makers to increase the level of output in Nigeria by improving productivity/supply in order to reduce unemployment and the prices of goods and services (inflation) so as to boost the growth of the economy. Another policy implication of this study is that government should embark on labor intensive technique of production as against capital intensive and also close the border to some extent which is the likely measure to reduce unemployment and Inflation and increase domestic output level (GDP).

Keywords: Economy, labor, unemployment, Nigeria.

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