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National Bureau of Statistics says unemployment rose from 12.7 to 23.9 per cent in 4 years

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National Bureau of Statistics says unemployment rose from 12.7 to 23.9 per cent in 4 years

by Stanley Azuakola

The National Bureau of Statistics (NBS) has disclosed that in the third quarter of 2012, there were about 427, 294 jobs created in the country. Of that number, about 98.7 per cent came from the formal sector of the Nigerian economy, owned by private individuals and faith-based establishments, while the remaining 1.3 per cent came from the government.

The NBS however admitted that the national unemployment rate increased over the same period from about 12.7 per cent in 2007 to about 23.9 per cent in 2011.

The statistics was derived from the 2012 Third Quarter 2012 Job Creation Report carried out recently, as directed by the Finance Minister, Dr. Ngozi Okonjo-Iweala.

Of the over 400, ooo jobs created, the report showed that 164,293 jobs were created in the formal sector, while 240,359 were created in the informal sector of the economy.

Youths aged between 15 and 35 years got the highest number of available jobs. 105,512 jobs (91.5 per cent) of the jobs were on full time basis, while 9,850 (8.5 per cent) of the jobs were part-time.

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