The Impact Of Unemployment On Economic Growth Of Nigeria (1981-2018):- Adewole Oluwatoyin C

Abstract

This study investigates the impact of unemployment on economic growth of Nigeria (1981 – 2018) using the ordinary least square method which incorporates endogenity in its estimation, the unit root test was carried out for each of the variables using the ADF (Augmented Dickey Fuller) which shows that RGDP, SAV, GOV EXP, PCI and EXR are stationary at 1" difference while UNEMP is stationary at level. The cointegraton was also conducted to determine if there exists a long run relationship among variables. Finding from the study shows that the existence of long run relationship among the variables. The results of the t-student tests shows savings per capita income variables of this research work are statistically significant while others weren't. The f test reveals that the overall model is statistically significant. The. coefficient of determination (R²) shows that the independent variables explain up to 98% of the variations in the dependent variable. The study recommends among others thatproviding the infrastructures government also needs to make monetary and fiscal policies that would make investing in Nigeria attractive, education should be tailored towards the acquisition ofskills and technology as relevant and required to meet the needs of modern industries and companies, need to restructure the existing too formal and rigid curricular, the introduction of entrepreneurship skills into the curriculum of higher institutions