Economic Effect Of Unemployment In The Nigeria Economy (a Study Of Igbo Etiti North)

According to the advanced learner dictionary, Unemployment is defined as the amount of Labour unused. When a factor of production is not doing any job we say it is unemployed. In this project we are concentrating mainly on the Economic effect of unemployment in Nigeria Economy. In particular Emphasis on Labour which is the most important and active factor of production which simple means, that without Labour all other factors will not be put into practice.

Then all other factors are regarded as passive factors of production.

Unemployment is a very dangerous phenomenon to an Industrialized economic system.  Further primitive communities in

Nigeria was usually self-sufficient and no unemployment problem, through their standard of living is a very low living. They share the work that had to be done and any spare time easy enjoyed as leisure.  There is still little unemployment in Nigeria engaged in the production of primary product though these communities may suffer a general reduction in their product, fall in the world market. We often advocate for Industrialization as a penance to unemployment problem but in as much as that is true it is also very important to know that this Industrialization Coupled with the division of labor and specialization bring along with them this virus problem called unemployment to Industrial progress, how wonder it was the leading Industrialized nation that were the first to introduce scheme of social security.

This ugly and nerve Cracking Carter- worm which has right from time been controlling its disastrous head in the blood stream of the general populaces of the worlds has been a thing of concern be great philosopher of economist and socialist of the olden days. This has led them to come up with different ideal theories and belief all in gust to recommend a drug for this disastrous disease called unemployment.

Anyacle (1995- 214) It stated that unemployment may be defined as a situation where some people who fall with the age the working population capable and willing to work, but are unable to obtain a befitting work to do.

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