Does Unemployment Significantly Impact on Economic Growth in Nigeria?

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LLL46

Does Unemployment Significantly Impact on Economic Growth in Nigeria?

Onwachukwu Chinedu Increase
Onwachukwu Chinedu Increase Nnamdi Azikiwe University, Awka
DOI

Abstract

This study examines the impact of unemployment on the economic growth of Nigeria from 1985 to 2010. The Ordinary Least Squares (OLS) and Augmented Dickey-Fuller methods are used to estimate the model of one dependent variable (Real GDP growth rate) and two explanatory variables (inflation and unemployment). It was found that unemployment does not have a significant impact on the economic growth of Nigeria. Inflation, however, was found to significantly impact on the economic growth of Nigeria. Recommendations are also made to help accelerate the rate of growth.

Does Unemployment Significantly Impact on Economic Growth in Nigeria?

This study examines the impact of unemployment on the economic growth of Nigeria from 1985 to 2010. The Ordinary Least Squares (OLS) and Augmented Dickey-Fuller methods are used to estimate the model of one dependent variable (Real GDP growth rate) and two explanatory variables (inflation and unemployment). It was found that unemployment does not have a significant impact on the economic growth of Nigeria. Inflation, however, was found to significantly impact on the economic growth of Nigeria. Recommendations are also made to help accelerate the rate of growth.

Onwachukwu Chinedu Increase
Onwachukwu Chinedu Increase Nnamdi Azikiwe University, Awka

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Onwachukwu Chinedu Increase. 2015. “. Global Journal of Human-Social Science – E: Economics GJHSS-E Volume 15 (GJHSS Volume 15 Issue E8): .

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Crossref Journal DOI 10.17406/GJHSS

Print ISSN 0975-587X

e-ISSN 2249-460X

Issue Cover
GJHSS Volume 15 Issue E8
Pg. 23- 26
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GJHSS-E Classification: FOR Code: 910103
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Does Unemployment Significantly Impact on Economic Growth in Nigeria?

Onwachukwu Chinedu Increase
Onwachukwu Chinedu Increase Nnamdi Azikiwe University, Awka

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