Monetary Policy and Unemployment in Nigeria
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This study investigated the link between monetary policy and unemployment in Nigeria from 1986 ' 2016. Employing unemployment rate as the dependent variable and interest rate, monetary policy rate, foreign exchange rate, inflation rate and money supply as independent variables, the ordinary least square (OLS) estimation technique was used to check the relationship existing between these variables. The study revealed a link between unemployment and money supply, inflation rate and monetary policy rate. The Unit root test revealed that all variables were stationary at order one, the Johansen Co-integration test revealed a long run equilibrium relationship among the variables while the estimated error correction mechanism (ECM) revealed that 32 percent of disequilibrium is corrected for in the long run. Based on findings, the study recommended that as a control rate to other monetary variables, the monetary policy rate should be moderately placed; also, as a requirement for steady and continuous growth in investment necessary for the creation of jobs, price level and foreign exchange rate should be stable and low.