Does Unemployment Significantly Impact on Economic Growth in Nigeria?

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

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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.

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No external funding was declared for this work.

Conflict of Interest

The authors declare no conflict of interest.

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No ethics committee approval was required for this article type.

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Onwachukwu Chinedu Increase. 2015. \u201cDoes Unemployment Significantly Impact on Economic Growth in Nigeria?\u201d. Global Journal of Human-Social Science - E: Economics GJHSS-E Volume 15 (GJHSS Volume 15 Issue E8): .

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GJHSS Volume 15 Issue E8
Pg. 23- 26
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Crossref Journal DOI 10.17406/GJHSS

Print ISSN 0975-587X

e-ISSN 2249-460X

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GJHSS-E Classification: FOR Code: 910103
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v1.2

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October 31, 2015

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English

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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.

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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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