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NBS: Nigerian economy created 427,294 new jobs in 3 months

By The Rainbow
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The Nigeria's economy generated 427,294 new jobs in the third quarter of 2012, the National Bureau of Statistics has said.

According to the result of a survey released by the agency, 56,528 employees exited from various businesses in the third quarter of 2012 with most of them from the clerical cadre.

TheĀ  report, which was signed by the Statistician-General of the Federation, Dr. Yemi Kale, said the need to fill a position vacated by an ex-employee recorded the highest percentage of those employed with 29.9 per cent,

This was followed by the need for business expansion, with 20.2 per cent

The statistical agency also added in the report that the informal sector, with 240,349 fresh new jobs, generated the highest employment within the period under review.

The 240,349 figure, it noted accounted for 55.25 per cent of the total number of jobs created in the period.

There are over 17 million enterprises in the informal sector.

The formal sector, with 164,293 jobs representing 38.45 per cent; and the public sector, with 22,642, or 5.3 per cent, followed in that order.

The report said, 'During the third quarter of 2012, 240,359 jobs are estimated to have been created in the informal sector, representing 55.25 per cent, followed by the formal sector with 164,293 jobs representing 38.45 per cent, and the public sector was 22,642, which is about 5.3 per cent.

'The total estimated number of jobs created in the Nigerian economy for the third quarter of 2012 came to 427,294.'

The report also said the government remained a major employer of labour having a total number of 612,197 employees.

Of this figure, it said 400,377 or 65.4 per cent were males, while the remaining 211,820 or 34.6 per cent were females.

'The total number of jobs created in public institutions was estimated to be 22,642 in the third quarter of 2012.

'Of these, 65.3 per cent were males. Academic institutions had the highest number of jobs created, taking 40 per cent of the total number.

'This was followed by the state parastatals with 32.2 per cent. Federal ministries had the least number with 0.33 per cent.'

The report stated that people within the age bracket of 15 to 35 years constituted the bulk of people employed by the jobs created in the quarter with 72.8 per cent, while the remaining 26.6 per cent represented age group 36 to 59 years.

The age group of 60 and above, it added, recorded 0.6 per cent of the total number of new employee.