427,000 jobs created in third quarter 20I5, says NBS

National Bureau of Statistics building

National Bureau of Statistics building

THE National Bureau of Statistics (NBS) has said that in the third quarter of 20I5 (Q3) about 427,000 new net jobs were created across the country, even as the bureau affirmed that this was inadequate to match the over 1.9 million new entrants of job seekers into the labour market in Q3 2015.

According to the bureau’s unemployment report made available to The Guardian, within the same period, the number of unemployed in the labour force increased by 1,454,620 (529,923 in Q2) persons between Q2 2015 and Q3 2015, resulting in an increase in the unemployment rate to 9.9 percent in Q3 2015 from 8.2 percent in Q2 2015, down from 7.5 percent in Q1 2015. This, the NBS said represents the fourth consecutive rise in the unemployment rate since Q3 2014.

Accordingly there were a total of 20.7 million persons between the ages of 15‐64 that were willing and able to work and actively seeking work (that is in the labour force) that were either unemployed or underemployed compared to 19.6 million in Q2 2015, compared to 17.7 million in Q1 2015.

The unemployment rate within the review period was typically highest for those within the ages of 15‐24 (17.8 percent in Q3 2015, up from 14.9 percent in Q2 2015 and 13.7 percent in Q1 2015), while the underemployment rate for those within the ages 15‐24 declined slightly to 31.8 percent in Q3 from 33.8 percent in Q2 and 30.6 percent in Q1 2015,” the bureau said.

According to the report, for those in the labour force within the ages of 25‐34, unemployment rose to 10.8 percent in Q3 2015 from 8.9 percent in Q2 2015 and 8.2 percent in Q1 2015, while underemployment stood at 18.5 percent in Q3 from 19.5 percent in Q2 and 17.7 percent in Q1 2015. It further said that 49.6 percent of Nigerians in the labour force (not entire population) aged 15‐24 were either unemployed or underemployed in Q3 2015 compared to 48.7 percent in Q2 and 44.3 percent in Q1 2015, while another 29.3 percent aged 25‐34 were either unemployed or underemployed in Q3 2015 compared to 28.4 percent and 25.9 percent in Q2 and Q1 2015 respectively.

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  • amador kester

    27000 jobs created on 3 months in a nation of 170 million souls.Tantamount to 9000 jobs monthly,300 daily. Not bad in principle but pensive

  • amador kester

    Ok 427000 jobs ,good figures! and not 27000 as i presumed. I attribute my error to online legibility…

  • ukoette ibekwe

    Where did the employment come from? Which sectors of the economy created the jobs. We have read how the NSE traded at it’s lowest in three years. The Abuja electricity board is stated to have reduced power supply to customers to about six hours per day. The banks were reported to have shrank their workforces. Construction companies have been reported to have sacked employees. Please, which sectors are driving the huge employment. Is it the government?
    The economic indicators do not add up.
    It would be good news but the statistics seem to be at variance with reported economic indicators.
    The statistics office reported a net gain of employment in the third quarter yet stated that it was not enough to care for the number of new entrants into the labour force in the same period?
    Is this a misreport or what? Doesn’t net gain mean the positive balance between losses and gains anymore?