Unemployment is a state of disequilibrium in the economy. In Nigeria unemployment has been recognized as economic problem, and solutions are being sought to wipe it out or at least reduce it to manageable levels.
In this research work, attempt was made to examine how unemployment generated in Nigeria with particular reference to our university and polytechnic graduates.The research viewed this ugly trend (unemployment) in the country under the following headlines: involuntary unemployment, frictional unemployment, structural unemployment, classical unemployment and cyclical unemployment.
It was discovered that the basic causes of unemployment are government made laws, individual, society, economic growth and insufficient effective demand for goods and service in the economy.
Background to the Study
Unemployment is viewed in this research work as a state in which an able-bodied individual is actively seeking, but is unable to secure, any gainful employment.Unemployed individuals are unable to earn money to meet financial obligations. Failure to pay mortgage payments or to pay rent may lead tohomelessness through foreclosureor eviction. Unemployment increases susceptibility to malnutrition, illness, mental stress, and loss of self-esteem, leading to depression.Statistics of Nigerian unemployment seems to consist, not of uneducated,rural populations, who have been uprooted by failing agricultural production resulting from the absence of mechanization and decreasing incomes, but of some highly educated populations, as well, who normally, would form the core of the productive vanguard in a developing country. In other words, many of Nigeria’s unemployed andconsequently poor, are well educated and skilled, even by European andAmerican standards.Extant literature refers to Nigeria’s underemployment and low productivity, as constituting a vicious cycle that explains the endemic poverty in the country. Unless Obadan & Odusola of the National Center for Economic Management & Administration (NCEMA), Ibadan,are wrong, Nigeria will have no prospect of measurable development or of improving the welfare of its people, unless it enhances the chances of employment for its university graduates.
statement of the Problem
In looking at the unemployment syndrome among Nigerian graduates,causes, effects and solution, some of the questions easily come to mindare:
1. what are root causes of the unemployment in Nigeria?
2.what are the major effects on individual and the society?
3.what is the nature of relationship between poverty, unemployment and growth in Nigeria?4. what steps should be taken to ensure that growth is such that brings about decrease in unemployment in Nigeria?