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Unemployment to rise in 2014

07 January 2014, 14:35

Lagos - Nigeria's domestic unemployment rate may rise by 2% in 2014, reports ThisDay.

In a report published by Financial Derivatives Company Limited (FDC), a Lagos-based financial advisory firm, Nigeria’s jobless rate is likely to approach 32 percent in the coming months as the economy fails to grow quickly enough to employ people rejoining the labor force.

According to the report, the impact of unemployment is expected to manifest in the Consumer Price Index (CPI) which stood at 7.9 per cent as at November 2013.  The figure is expected to increase to between 9.5 and 11 per cent by the end of the year.

The country’s Foreign Direct Investment (FDI) is also expected to decline to $4.8 billion in 2014.

Read more at ThisDay

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