THE EFFECT OF FEDERAL EXPENDITURE AND MONEY SUPPLY ON THE RATE OF UNEMPLOYMENT (1989-2000). A RESEARCH PROJECT MATERIAL ON BANKING AND FINANCE
ABSTRACT
d money supply as a tool on the rate of unemployment. But to which extent, these instrument have coThis study is motivated by the fact that federal expenditure anntributed either to worsen the problem of unemployment or alleviate it.
To investigate this problem, two hypotheses were formulated as follows.
Ho: There is no relationship between money supply and unemployment.
Hi: There is no relationship between federal expenditure and unemployment.
In testing the hypothesis, secondary data was used and analyzed using regression and correlation analysis as well as student t-test. The following are summary of the major findings from the analysis carried out in the study.
Federal expenditure and money supply contributed little to the reduction on the rate unemployment between (1980-2000).
The package of National directorate of employment programme conmcerning encouragement and generation of employment opportunities for most especially school teachers from secondary school and graduate from higher institution seems to be less vigorous since 1992 till date.
The inability of government of both federal and state levels to lift embargo on public sector employment from (1994 to August 1999) could be partly responsible for the high level of graduate unemployment in the Urban areas.
On the strength of the findings, the following recommendations were made.
The use of these tools (federal expenditure and money supply) need to be reviewed to enhance their potential for addressing the rate of unemployment.
Alternative tools may be used to complement federal expenditure and money supply towards the alleviation on the rate of unemployment.
The tool thrust should be the establishment of most micro-credit scheme to assist enterprising unemployed people to set on micro business across the country.
There is need to build up human capital, this mean improving the knowledge, shall, capacities and the mental and physical conditions of the masses.
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
Unemployment is an issue that has generated debates from every nook and cranny of the world. Its impact was more, felt during the industrial revolution when the dimension of man power absorption changed towards the consideration of skill as a fundamental pre-requisite. However, over the years, government around the world have been concerned with how the unemployment question could be answered – similarly, the Nigeria economy was characterized by severe unemployment, especially after the civil war which necessitated policy measures aimed at reducing it’s.
Different government since 1970 till date have tried different strategies in order to reduce unemployment, but the result still remain persistent unemployment resulting in a number of social and economic problems like crime, destitution, prostitution, corruption etc associated with it.
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