Perspectives On Unemployment in Nigeria: Lessons from Cuban Economy

Unemployment is a ubiquitous phenomenon in all economies. Though most empirical studies assert that unemployment is higher in less developed economies as compared to developed one; it is an established fact that no country has the capacity to provide jobs for all its citizen at same time. Hence, the attainment or maintenance of an acceptable rate of unemployment is a major concern of public policy formulators. Despite the numerous economic challenges, Cuba has the one of the lowest rate of unemployment in the world. How has it managed to achieve and maintain this? What did they do particularly different? The developing countries need this information to be able to deal with this seemingly intractable problem. Thus, the paper examined the economic strategy used by Cuba to tackle unemployment and identify some lessons for developing economies like Nigeria.