Nigerian economy creates 431,021 jobs in Q1 –NBS

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The National Bureau of Statistics, NBS, has reported that the Nigerian economy generated 431,021 jobs in the first quarter of the current year.

This is up from the 385,913 jobs created in the fourth quarter of 2012, representing an increase of 11.69 per cent.

According to the findings of the Quarterly Job Creation (Fourth Quarter 2012 and First Quarter 2013) released yesterday by the agency, a breakdown of jobs created in the fourth quarter of 2012 indicated that 152,018 jobs were created in the formal sector, 208,920 jobs in the informal sector and 24,975 in the public sector.

The formal sector contributed 174,326 jobs to the total jobs generated in the first quarter of 2013, while the informal and public sectors generated 232,327 and 24,368 jobs, respectively.

Comparatively, the informal sector generated onethird more jobs than the formal sector in first quarter of 2013.

However, the formal sector shows the greatest increase between the two quarters of 14.68 per cent more jobs created than in the fourth quarter of 2012.

Job creation in the public sector is the only area to exhibit a decline of 2.43 per cent from the fourth quarter of 2012 to the first of 2013.

A further analysis of the formal sector jobs created indicated that the education sector provided the most jobs in both quarters, making up 50.35 per cent of new jobs in the fourth quarter of 2012 and 39.49 per cent in first quarter of 2013 while financial intermediation sector contributed the second largest portion of 15.9 per cent of jobs created in fourth quarter of 2012, increasing by a further 6.60 per cent points to 22.51 per cent in first quarter 2013.

Mining and quarrying generated the least employment of the industrial sectors, constituting just 0.14 per cent and 0.11 per cent of all jobs created in the last quarter of 2012 and the first of 2013, respectively.

According to the NBS, the fastest growth in job creation was recorded in the wholesale and retail trade sector, with 100.9 per cent increase between the two quarters just as real estate, renting and business activities, with 66.6 per cent increase, also witnessed substantial increases in the number of formal jobs created.

The bureau reported that: “Manufacturing with a 63.2 per cent increase and financial intermediation, with a 62.3 per cent increase in jobs created. Only two sectors witnessed a decline in job creation between the two quarters.

“Firstly, mining and quarrying which created 10.9 per cent fewer jobs than in the previous quarter.

“Secondly in the education sector, which was not able to sustain its high rate of job creation, witnessing a 15.86 per cent point decline in the number of jobs created relative to the fourth quarter of 2012.

“The most cited reason for new employment is ‘other’ which has a share of 11.36 and 11.46 in fourth quarter of 2012 and first quarter of 2013, respectively.

“However, reasons for employment are fairly equally distributed over the two periods, with each category retaining a 10-11 per cent share of responses. There is a less than one per cent point change in between categories across the two periods even when looking at individual sectors.

“However, although small, some changes are notable. For instance, the greatest increase of 0.80 per cent comes from the promotion of the occupant of the position, which eludes towards an expansion of managerial positions and an upward mobility within the workplace.

“Secondly there is a 0.54 per cent increase in job creation due to a new skill being required in the office, showing an increase in the technical requirements of businesses.”

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