These are the number of jobs that were created in the second quarter of 2014

by Tunji Andrews

Reports, fresh out of the National Bureau of Statistics indicate that Nigeria created a total of 259,353 jobs in the second quarter of 2014, a marginal increase from the 240,871 recorded in the first quarter of 2014. The report which showed the latest estimates for jobs created in the Nigerian economy for the First and Second Quarters 2014, indicated that the distribution was 78,755 from the formal sector, 175,786 from the Informal sector and 4,812 from Public institutions.

The estimates are the results of a quarterly Job Creation Survey commissioned by the Bureau in collaboration with the office of the Chief Economic Adviser to the President, National Planning Commission and the Federal Ministry of Labour & Productivity. The objective of the quarterly survey is to track the number of jobs being created in the economy within a given period of time, provide multi-sectoral and policy relevant data on the employment-generating sectors, seasonality in employment and the labour market.

The findings are categorized into Formal sector jobs, Informal sector and Public sector jobs. Formal jobs refer to employment generated in establishments that employ 10 persons and above, or formal professional services that employ less than 10 persons. The Informal jobs are those generated by individuals or businesses employing less that 10 or those businesses operating with little or no structures e.g. those in Agriculture and Wholesale and Retail Trade. While The Public Institutions are the Government Ministries, Departments, Agencies (MDAs), Government Parastatals, Academic and Research Institutions at Federal, State and Local government levels.

The Quarterly Job Creation survey is a nationwide survey, covering all 36 states of the federation including the Federal Capital Territory (FCT). A sample of 5000 establishments was taken across the country covering all sectors of the economy. This round of the survey, for which estimates are being reported, achieved an 81.1 percent response rate from the establishments selected in the sample. This is highly commendable and is a reflection of not just the advocacy strategy adopted by NBS but also the realization by data providers of their critical role in the data production process to aid evidence based and informed policy making.

The indications that may be of a worry is that going by the current unemployment statistics of the bureau, which puts the total unemployment in Nigeria at 23.9% in 2011, while urban unemployment was estimated at 29.5% in 2013; It would take 8 years, 3 months to employ the current batch, assuming no new members join this category in that time space.

Culled from www.ynaija.com