The National Bureau of Statistics (NBS) says that 470,000 jobs were created in the first quarter of 2015 – two months to the end of former President Goodluck Jonathan’s administration. In a report released yesterday, the statistics bureau said a total of 469,070 were created in all sectors of the economy between January and March 2015. This translates to about 157,000 jobs per month, meaning that about 785,000 jobs would have been created from the beginning of the year to end of May when President Jonathan’s tenure formally came to an end.
A study of the report revealed that new jobs created in the informal sector during the period amounted to 332,403 out of the 469,070 jobs, while the formal sector recorded about 130,941 new jobs, representing 27.92 per cent of the total jobs created during the period under review. The report also stated that the 469,070 jobs created during the period represents an increase of 99,585 or about 26.95 per cent over the 369,45 new jobs created in the fourth quarter of 2014.
The NBS also disclosed that the total job created in 2015 first quarter amounted to a decline of 7,085 jobs or 5.13 per cent when compared to the 138,026 new jobs created in the fourth quarter of 2014.
The figure was, however about 72.3 per cent higher than the number of jobs created in the same period in 2014. Broken into sectors, the report noted that a total of 1,339 new jobs or 30.5 per cent were created in the public sector, making a total of 5,726 new jobs or 1.2 per cent of the total jobs created in the sector during the period.
On the other hand, informal sector jobs increased by about 46.39 per cent, from a total of about 227,072 recorded in the fourth quarter of 2014. “In the first quarter of 2015, the total number of jobs created in the economy was 469,070 jobs, this is an increase of 26.95 per cent (99,585) over the number of jobs in the preceding quarter and 94.7 per cent more than the total number of jobs recorded in the same period of 2014. “In the formal sector, 130,941 new jobs were generated, representing 27.92 per cent of total jobs generated in the first quarter of 2015. “This is a decline of 5.13percent (7,085) when compared to the fourth quarter of 2014 but a 72.3percent increase when compared to the same period in 2014.
“There was also a 30.5 per cent (1,339) increase in the number of jobs created in the public sector of the economy, making it 5,726 new jobs generated in the public sector. “In the 1st quarter of 2015, the jobs generated in the public sector represent 1.2 per cent of the total jobs generated during the reference period,” the report said. The statistics bureau noted that the increase in informal sector jobs consisted mainly of those generated by individuals or businesses employing less than 10 persons, or businesses operating with little or no structures. This category of businesses exists mainly in agriculture, wholesale and retail trades sub-sectors.
The NBS attributed this to the sharp increase in numerous informal economic activities that took place during the election period that occupied the best of the first quarter. The report also stated that during the survey, conducted late April and May 2015, due to the April general elections, new jobs by cadre showed that Managerial, Professional and Technical Workers grew the most, from 32,974 employees in 4th quarter of 2014 to 47,921, representing a growth of 14,947 employees, or 45.32% during the period under review.
“The growth made the Managerial, Professional and Technical workers cadre the most dominant with the largest number of jobs created, representing 36.6% of the total,” the report said.