Socio-Economic Impact of Recession and Youth Unemployment

Abstract

This paper appraised the socio-economic impact of recession and youth unemployment in Nigeria. The current condition of Nigeria in the recent time calls for urgent attention. The emphasis is on some specific interplay of factors in the process of recession and youth unemployment. Content analysis based on existing literature was applied in examining the impact posed by economic recession and youth unemployment in Nigeria. The study observed that millions of people who graduate from the university every year but could not find a suitable job to earn a living. As such, unemployment has been on the increase irrespective of governments’ efforts to ameliorate the sufferings of the youth which has not yielded much fruit. The study equally observed that life styles of some youths in Nigeria have changed drastically. Most youths now engage themselves in social vices such as armed robbery, kidnapping, impersonation, forgery, internet fraud etc in order to make both ends meet. Finally, the study proffered alternative strategies on how to salvage the socio-economic impact of recession and youth unemployment in Nigeria.