Examine the relationship between unemployment rate and inflation in Nigeria Department: Economics By: Victech Project ID: 9045 Rating: (5.0) votes: 1Rate this project12345 Price:₦5000 Get the Complete MaterialAbstractThis study investigates the relationship between unemployment rate and inflation in Nigeria over the past twenty years, using the Phillips Curve Theory as the theoretical framework. The Phillips Curve, which posits an inverse relationship between inflation and unemployment, serves as a foundational model to evaluate whether such a trade-off is observable in the Nigerian context. Employing a descriptive survey research design, the study was conducted across Nigeria with a purposively selected sample of 120 respondents drawn from universities, financial institutions, research institutes, and the informal sector. These respondents, chosen for their knowledge and familiarity with economic dynamics, provided primary data through a structured questionnaire, which was analyzed using frequency tables and simple percentages. The study revealed that both unemployment and inflation rates in Nigeria have followed a generally upward and unstable trend over the past two decades, often coexisting rather than demonstrating the inverse relationship predicted by the traditional Phillips Curve. Furthermore, the analysis found that the Phillips Curve theory does not adequately explain the Nigerian experience, especially under prolonged periods of stagflation, characterized by rising unemployment and inflation simultaneously. The study identified several macroeconomic drivers of these trends, including policy inconsistency, heavy import dependency, weak industrial output, high public debt, and a shrinking formal job market. Based on these findings, the study concludes that Nigeria’s inflation–unemployment dynamics are shaped more by structural and institutional weaknesses than by the demand-side trade-offs envisaged by the Phillips Curve. Therefore, the study recommends a mix of supply-side reforms, aggressive investment in industrialization, coherent monetary-fiscal policy coordination, and the creation of sustainable employment opportunities as strategic responses to address both inflation and unemployment concurrently. These recommendations are vital for fostering macroeconomic stability and inclusive economic growth in Nigeria. ...Preview Download Preview +Other Economics project topics and materials you might be interested in»The impact of industrialization on Nigeria's economic development»The impact of minimum wage fluctuation on growth of Nigerian economy»Population growth and economic development in Nigeria (1981-2011)»The impact of population growth on the Nigerian economy (1980-2010)»The impact of industrial output on the economy of Nigeria (1980-2010)»The impact of petroleum subsidy on the consumption of petroleum products in Nigeria»The impact of small and medium scale industries on the economic growth of Nigeria (1986 – 2010)»The growth of Nigerian economy and unemployment (1980-2010)»Poverty and the Nigerian economy»Impact of government expenditure on Nigerian economic growth (1981 – 2010)»The effect of external debt on economic growth of Nigeria»An assessment on the impact of industrialization on economic growth in Nigeria»The impact of external debt on Nigeria economy (1985-2011)»Inequality and taxation in Nigeria (1980-2010)»The impact of bank lending on the growth of small and medium business in Osun State