In order to live in Africa’s largest economy, young people without work have adopted five key methods, according to a new analysis by Jobberman, a Nigerian job directory and career platform.
A recent report by Jobberman, a Nigerian based job portal and career platform has identified five major strategies that young people without jobs have adapted in order to survive in Africa’s biggest economy.
The strategies listed are hustle, support from family and friends, stipends from parents, borrowing and support from partner
“Although the population of unemployed youth in Nigeria is on the rise, many young people are rarely without economic engagement, as over 56 percent acknowledge hustle as their means of survival,” the report said.
It said this largely invalidates their description as ‘lazy,’ complacent, and entitled entities, as they continue to display resilience and demonstrate agency within economic structures.
“Nevertheless, a majority do not classify these engagements as work since they are unsustainable economic pathways that still leave them socially vulnerable and constantly needing financial support,” it said.
Nigeria’s high inflationary pressures which has surged to the highest in 17 years as a result of the Russian-Ukraine crisis in February, is affecting the recovery and creation of jobs in its labour market.
According to the National Bureau of Statistics (NBS), the country’s inflation rate accelerated for the ninth consecutive month to 21.09 percent in October 2022, highest in 17 years from 15.60 percent in January.
“Over 65 percent of 2,228 respondents engaged during this research indicated that they are unemployed even though the NBS official unemployment rate sat at 33.3 percent in 2020,” the Jobberman report said.
This has adversely affected the disposable income of people which has eroded their purchasing power eventually throwing millions of people into poverty.
One of the respondents, Amina, a 26-year-old sales officer at an agro-processing company said she recently got laid off from her job as the outrageous costs of running the business were hitting the company severely.
“My salary could not cater for my basic needs, and while I chose to quit, the company eventually folded up.”
Data from NBS shows 133 million people are poor in health, education and two other dimensions.
A World Bank’s report on Nigeria’s poverty assessment also affirms that in some cases, families have begun to adopt dangerous coping strategies, the most notable being reducing food consumption and cutting education short.
“With support systems plunging into steeper levels of vulnerability, especially in more troubled regions of the country, young people may have to utilize the most dreadful but available means of survival,” the Jobberman report said.
It recommended that the public sector, private sector, and development partners must recognize young people’s concerns and needs in designing interventions to improve their employability and employment outcomes.
“For the public sector, it is vital to strengthen the reach of government safety nets to cushion the effect of unemployment and reduce the financial burden on families.”
“Supporting the innovation ecosystem in agriculture to bridge the gaps in food production and supply chain is also critical to improving young people’s welfare, employment, and economic outcomes,” it said.
Personal experience
Lulu Eniafe, a job seeker shared his personal experience on how he has been coping since January when he became unemployed.
How are you coping with the rise in food prices and what are you buying less of?
I have stopped buying food outside or at restaurants because it’s slightly more expensive than home-cooked meals. I don’t buy soda or soft drinks anymore. Since some places sell them for N200 now. I don’t buy bottled water, I just go for pure water, and carry one in my bag from home if I can.
What do you have to forgo now?
I wanted to live on my own after NYSC but the price of rent and household items drove me back to my parents’ house. I can’t forgo much when it comes to healthcare because I have medications I constantly need to get so I try to buy in bulk (3 months) to avoid monthly inflation on them.
My plan to also pursue higher education outside the shores of Nigeria has been an expensive pursuit, getting my passport, and application fees are also in dollars with fluctuating exchange rates. I spend a lot applying to these schools.
How easy has it been for you to move around? The transportation prices are ridiculous at this point, it’s hard to have a transport budget because the prices keep changing and not in a good way.
Sometimes I spend almost twice my initial budget but I don’t go out often and when I do, I have help splitting the fare from friends and family.
Has your income increased in the last year?
Last year I was a corper and my income was my NYSC allowance and the money the school I worked with paid me. I finished NYSC early this year and have since been in the job market. I’ve been sustaining with my savings and help from my family. So basically my income has reduced and with the increasing cost of living, I’m barely coping.
What are your fears if the economy continues like this?
I’m scared that if the economy continues like this, I will become poor.
source: businessday
