Fidelity bank card banner Emerald Energy Institute Camano banner

19,000 Nigerians lose public sector jobs within 6 months

By News Express on 14/09/2016

Gmail icon

Views: 1,840


The National Bureau of Statistics, NBS says at least 18,919 Nigerians have lost their public sector jobs between October 2015 and March 2016,

The Bureau, which reported a sharp decline of 84.1 per cent in total employment against the figure in the last quarter of 2015, said only about 79,469 jobs were generated in the economy in the first three months of 2016.

This is against about 499,521 jobs created during the corresponding period of 2015.

This translates to a negative employment generation figure of -4,288.

The agency said in its quarterly job creation survey in collaboration with the Central Bank of Nigeria, CBN, that the figure was 83.1 per cent lower than the 389,605 jobs created in the corresponding period last year.

Although about 5,867 new public sector jobs were generated between October and December 2015, the Bureau said about 10,155 jobs were lost during the period in the public sector of the federal, state and local governments.

Also, while about 5,726 jobs were created between January and March 2016 in the public sector, the Bureau said about 8,764 jobs were lost during the period, with a negative employment generation figure of -3.038 for the period.

The NBS said the drop by 27,246 in formal employment in the last quarter of last year and 21,477 in the first quarter of 2016 across all the economic activities was as a result of the slowing down of economic activities in the wake of the economic recession.

“This sharp decline in employment generation in the first quarter of 2016 is strongly correlated to the weakening economic output within the period, where the Nigerian economy recorded a negative growth of -0.36 percent,” the statistics agency said.

An analysis of the jobs created for the quarter showed 21,477 came from the formal sector, consisting formal professional services with less than 10 employees.

About 61,026 jobs came from the informal sector in the first quarter, made up of mainly low skill, low paying blue collar jobs in agriculture, light manufacturing, wholesale and retail trade businesses.

With the economy actually in recession at the moment, following the recent formal confirmation by the NBS, analysts say the employment situation would likely worsen, except government took steps to spend on strategic capital infrastructure to reflate the economy.

The Lead director, Centre for Social Justice, CENSOJ, Eze Onyekpere, said declining employment figures in an economy in recession was not surprising, as firms are closing up and reducing their workforce, in the face of declining gross domestic products (GDP) and high inflation.

“Decline in employment is to be expected in a recession. With companies profits declining, their retrenchment of workers, and not hiring to replace them, the figure will keep going down.”

“The challenge is not in the recession, but for government to spend its way out of it. Not as Nigerians talk about, but quality spending in a way to help regenerate the economy.

“Spending is not about borrowing to pay salaries of workers, but spending on strategic capital investments and projects to improve the ease of doing business, ensure availability of infrastructure, like power, roads, works and housing, for people to run their businesses.”

The Nigeria Labour Congress President, Ayuba Wabba, said the concern of the labour union was on how government could create new jobs for young Nigerians who constitute the most affected population by the crisis.

Wabba said the best way forward was for government to ensure manufacturers continue to access raw materials and produce.

Most manufacturers, he said, find it difficult to survive.

“Many of them have closed. They cannot afford the cost of raw materials, because of the difficulty in accessing foreign exchange (FOREX) and the pressure from the free fall of the Naira,” he said.

He said government must ensure FOREX was channeled to the manufacturer’s to enable them import raw materials they cannot find in Nigeria.

On the recession, he said the best way was for the government to make money available in circulation to drive economic activities.

“Government can also establish modular refineries to ensure money used for the importation of petroleum products would be saved and used to develop the economy, by providing the infrastructure required to drive productive economic activities to create jobs for the people,” he said.

The NBS earlier this year reported that the number of unemployed in the labour force, increased by 518,102 persons, resulting in an increase in the national unemployment rate to 10.4 percent in Q4 2015 from 9.9 percent in Q3 2015.

The Bureau also reported that unemployed and underemployed persons in Nigeria surged to 22.45 million in the fourth quarter, Q4, 2015.

•Sourced from TV360 Nigeria.

Source News Express

Posted 14/09/2016 05:57:37 AM

 

 

CLASSIFIED ADS

 

You may also like...
Drama as APC deputy governorship candidate reads ó...

Bill Clinton to deliver keynote address at the...

I have not dumped PDP - Jimi Agbaje...

Anambra royal fathers call for abolition of Osu...

Nigeria’s unity not negotiable, says Gov. Uduaghan

Drug mess: Kashamu in settlement talks with Obasanjo,...

FEC approves N970.2m for Nigeria Customs barracks construction...

APC wins 13 states as nine PDP governors-elect...

Armageddon In Ogoniland, By Fegalo Nsuke

National Human Rights Commission writes UNAAB over whistleblowers...

Why we are targeting all Nigerians in new...

Country music legend Don Williams is dead

 

Latest News Disquiet in Aso Rock as Osinbajo’s fate hangs Has Osinbajo been reduced to condolence Vice-President? By Fredrick Nwabufo Court asked to sack new NDDC Chairman, MD 29 bodies found in plastic bags How we will capture Kogi, retain Bayelsa in Nov — PDP Abuja ‘bitcoin kidnappers’ yet to be arrested — Security sources Chemical weapons: FG warns producers, marketers Akwa Ibom eyes 5,000 new jobs following partnership with IOCs Police tackle serial murders in Rivers hotels Sapele youths rally against cybercrime •Reject corruption, Yahoo Yahoo NNPC, Shell, Belema resolve dispute over oil well Fall of a star: How Yale graduate, Wall Street banker and entrepreneur fell from grace to become homeless in America

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (541,284 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (443,338 views) Shameless Genevieve Nnaji exposes breasts in public (389,677 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (326,839 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (294,861 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (253,725 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (249,889 views) 10 cars more expensive than Jets (238,559 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (231,585 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (217,622 views) Lagos plane crash: Journalist releases victims’ names (195,956 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (193,541 views)

 

CBN milk production

CBN banner advert

UBA Wise Savers Promo

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (102) Business & Economy (4,449) Business Verdict (80) Columnists (1,109) Complaints & Requests (96) Enterprise & Opportunities (215) Entertainment (664) Features (812) Global Business Monitor (442) ICT Monitor (63) International (3,960) Interview (203) Live Commentary (30) Love Matters (170) Maggie's Blog (414) News (51,436) Opinion (1,360) Pidgin (17) Politics (11,450) Religion (1,102) Sports (2,169) Stock Watch (39) AMA & Al Jazeera Global Update

 

 

 

 

 

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera