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Published On: Sun, Jan 25th, 2015

Nigerian economy generated 349,343 jobs in Q3, 2014 – NBS

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Statistician-General-of-the-NBS-Dr-Yemi-KaleThe Nigerian economy added a total of 349,343 jobs in the third quarter of 2014 (Q3, 2014), the National Bureau of Statistics (NBS) said on Thursday.

According to the latest job creation figures released by the NBS, the third quarter results showed a steady improvement in the total number of jobs added to the economy when compared to 240,871 and 259,353 jobs created in Q1 and Q2 2014 respectively.

In respect of job distribution, the informal sector of the economy accounted for 198,144 jobs or 56.72 percent of total employment generated in the period under review, while the formal sector generated 145,464 jobs or 41.64 per cent of the total share.

The public sector accounted for 5,735 jobs or 1.64 per cent of total jobs created in Q3 2014.

The figures further indicated growth of public sector of 923 jobs or 19.18 percent compared to the 4,812 jobs recorded in the preceding quarter, while that of formal employment translated to 78,755 new formal jobs created in Q2, translating to a rise of 66,710 jobs, or 84.71 percent, as well as an increase of 22,358 jobs or 12.72 percent in the informal sector when compared to second quarter estimates.

The employment statistics further revealed a total of 592,452 employees in federal and state ministries and parastatals in Q3, compared to 1,180,116 employees in Q2, representing a decrease of 99.19 percent or 587,664 employees in the third quarter of 2014.

It added that a total number of 392,317 employees were recorded in the local government areas in the third quarter compared to 155,620 employees in second quarter of 2014, indicating an increase of 150.10 per cent or 236,697 employees. (NAN)


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