As of 2024, the unemployment situation in Lagos State reflects a delicate balance. According to the National Bureau of Statistics (NBS), the combined rate of unemployment and time-related underemployment stands at 15.5%.
Most workers (around 88.0%) are self-employed, while only 12% are in wage employment. The unemployment rate itself is 4.2%, with urban areas experiencing a slightly higher rate of 5.9%. Among youth aged 15-24 years, the unemployment rate is 7.2%.
Despite challenges, efforts by organizations like the Lagos State Employment Trust Fund (LSETF) aim to tackle unemployment through job creation and wealth-building initiatives
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