Unemployment Rate

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British Journal of Arts and Social Sciences ISSN: 2046-9578, Vol.5 No.2 (2012) ©BritishJournal Publishing, Inc. 2012 http://www.bjournal.co.uk/BJASS.aspx

Graduate Unemployment in Nigeria: Causes, Effects and Remedies. Dr. Oluseyi A. Shadare Department of industrial Relations and Personnel management, University of Lagos, Akoka, Yaba, Lagos, Nigeria seyidare2001@yahoo.co.uk

Elegbede Sikirulahi Tunde Department of industrial Relations and Personnel management, University of Lagos, Akoka, Yaba, Lagos, Nigeria, telegbede@unilag.edu.ng

Abstract This paper examines causes of unemployment in Nigeria as well as the consequences and implications of graduate unemployment in Nigeria. The paper also provides useful suggestion and recommendations on how to curb graduate in Nigeria. The paper adopts empirical analysis to examine the causes of unemployment in Nigeria. The data used in this study is of two type primary and secondary data. However, for the primary data the questionnaire was used to solicit responses from the respondents. In conclusion economic recession, governmental policy, employment of expatriates and trade union wage demand increase the rate of unemployment. The study emphasis that planning for human resources use in Nigeria has been based on guesswork and needs reevaluation. Keywords: Unemployment, Human resource planning, Graduates, Economy.

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British Journal of Arts and Social Sciences ISSN: 2046-9578

Introduction Economists are unable to agree on the causes of or cures for unemployment (or anything else, it seems). The essence of the Keynesian explanation is that firms demand too little labour because individuals demand too few goods. The classical view was that unemployment was voluntary and could be cleared by natural market forces. The neo-classical theory is that there is a natural rate of unemployment, which reflects a given rate of technology, individual preferences and endowments. With flexible wages in a competitive labour market, wages adjust to clear the market and any unemployment that remains is voluntary. The latter view was that held by Milton Friedman and strongly influenced government policy in the early 1980s, but without success. There is, of course, no simple explanation of unemployment and no simple solution. Unemployment is the greatest challenge to underdeveloped and developing countries. the phenomenon of graduate unemployment ( GU) as it is being experienced in the developing countries constitute a peculiar problems to labor market and the general economy of these countries. From the content analysis perceptions of job seekers on the issue of graduate unemployment in a study conducted by Fajana (2000), the following factors were identified as the major causes of unemployment in Nigeria: - the long period of initial unemployment among university graduates in Nigeria , faulty manpower planning and expansion of educational facilities that have unduly raised the expectations of Nigerian youths , the economic recession , continued proportionality of expatriates in employment , the institution of NYSC ,the collective bargaining process, graduate attitude to some type of jobs attitude to jobs in other location as well as search behaviour of employers and job seekers, use of capital intensive technology , wide ruralurban migration , formal – informal sectors differentials. All these and many other factors contribute the causes of graduate unemployment in Nigeria. The objective of this paper is to critically evaluates all these factors so as to determine their impacts graduate job seekers in Nigeria and other LDCs. The purpose of this paper is to examine all the various factors that contribute to graduate unemployment with the view to provide suggestions and solutions on how to curb the problem of graduate unemployment in Nigeria. This paper will also examine how the actions of the industrial relations actors contribute to graduate unemployment in Nigeria. This paper intends to...
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