Nigeria’s Unemployment Rate Dropped By 1.1% In Q1 – NBS
It is no longer news that in Nigeria, the harvest is few and the labourers are plenty.
The government has been trying to put lots of people to work but over the past two years, many people have been let off their work than were put to work.
That now, appears to be changing as the rate of joblessness in the country saw a marginal drop between January and March this year, according to unemployment statistics released by Nigeria Bureau of Statics, NBS on Friday.
According to the statistical bulletin on formal employment and earnings for the first quarter of 2018, the average formal employment increased from 48,192 in the last quarter of 2017 to 48,708 in the first quarter of 2018, while the average earnings also increased by 4%.
The NBS said when compared with the same quarter in 2017, the formal employment and earnings showed an improvement 5.4% and 7.9%, respectively.
“Increase in employment numbers in the first quarter of 2018 were recorded in the following industries: public administration and defence; compulsory social security; activities of households as employers of domestic personnel; transportation and storage; administrative and support services activities; wholesale and retail trade; and repair of motor vehicles and motorcycles,” the bulletin read in part.
Data from the NBS showed that employment in the private, parastatal and government sectors stood at 31,276; 7,420 and 10,012, respectively, while earnings stood at 10,948; 15,310 and 16,941, respectively.
Of the employment numbers, the bulletin stated that “97.5% are local workers, while 2.5% are expatriates.”
Also Watch: Obasanjo's library was built with fraud money, Boko Haram Commander can make Shekau surrender