Citation:

Onwuka Irene Nkechi, Udeze Chike R. "Youth Unemployment and Economic Growth in Nigeria" International Research Journal of Economics and Management Studies, Vol. 2, No. 2, pp. 290-300, 2023.

Abstract:

The effect of youth unemployment on Nigeria's economic growth from 1991 to 2021 was examined in this study. The United Nations' World Population Prospects (2022) and WDI provided the information for this study (2021). They are made up of annual data for the subsequent variables. The model's dependent variables are the Gross Domestic Product Growth Rate, while the independent variables are the Young Unemployment Rate, Total Unemployment Rate, Labor Participation Rate, and Population Growth Rate. The auto-regressive distributed lag (ARDL) was used as the test statistic in the analyses. According to the results, there is a significant negative relationship between Nigeria's youth unemployment rate and economic growth, a significant positive relationship between Nigeria's overall unemployment rate and economic growth, a significant negative relationship between Nigeria's labor force participation and economic growth, and a significant positive relationship between Nigeria's population growth rate (POPGR) and economic growth. A method or programme was proposed that would instruct young people in Nigeria on how to engage in entrepreneurship.

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Keywords:

Youth Unemployment, Economic Growth, Unemployment Growth Rate, Labour Participation Rate, Population Growth Rate.