431,021 Jobs Were Created in 2013 Qtr 1 – National Bureau of Statistics

Latest job data by the National Bureau of Statistics (NBS) shows that 431,021 jobs were generated in the Nigerian Economy between January and March 2013, up by 11,69 percent from the 385,913 jobs created in the preceding quarter.

The survey result titled: Findings of the Quarterly Job Creation (Fourth Quarter 2012 and First Quarter 2013), released Sunday evening by NBS showed that the informal sector of the economy created a third more jobs than the former sector in the first three months of this year.

According to the NBS, “a breakdown of job created in the fourth Quarter of 2012 indicates 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.”

The report added however that the formal sector showed the greatest increase between the two quarters of 14.68 percent 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 of 2013, of 2.43 percent, with an analysis of the formal jobs created showing that the education sector provided the most jobs in both quarters. the education sector accounted for 50.35 percent of new jobs in the 2012 fourth quarter and 39.49 percent in first quarter, 2013 followed by the financial intermediation sector, which accounted for 15.9 percent of jobs created in 2012 Q4, increasing by a further 6.60 percent points to 22.51 percent in Q1,2013.

Mining and quarrying generated the least employment of the industrial sectors, constituting just 0.14percent and 0.11 percent of all jobs created in the last quarter 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 percent increase between the two quarter just as Real Estate, Renting just as Real Estate, Renting and Business Activities, with 66.6 percent increase, also witnessed substantial increases in the number of formal jobs created.

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