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816,934 new jobs generated in six months — NBS

By BusinessNews Staff on October 29, 2013

The Nigerian economy generated a total of 816,934 jobs between the fourth quarter of 2012 and the first quarter of 2013, the National Bureau of Statistics has said.

The NBS said this in the fourth quarter 2012 and first quarter 2013 Job Creation Survey, which was released in Abuja on Sunday.

The survey was jointly carried out by the NBS, the Office of the Chief Economic Adviser to the President, the Ministry of Labour and Productivity and the National Directorate for Employment.

According to the report, the economy generated 385,913 jobs in the fourth quarter of 2012 and 431,021 in the first quarter of 2013, showing an increase of 11.69 per cent between the two quarters.

A breakdown of the jobs created in the fourth quarter of 2012 indicated that 152,018 were created in the formal sector, 208,920 in the informal sector and 24,975 in the public sector.

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

The report stated, “The informal sector generated one third more jobs than the formal sector in the same first quarter of 2013. However, the formal sector shows the greatest increase between the two quarters with 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 from the fourth quarter of 2012 to the first quarter of 2013.

“An analysis of the formal jobs created shows 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 the first quarter of 2013.

“Financial intermediation contributed the second largest portion of 15.9 per cent of jobs created in the fourth quarter of 2012, increasing by a further 6.6 per cent points to 22.51 per cent in the first quarter of 2013.”

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