Micro businesses have been found generating 332, 403 jobs for Nigerians in the first four months of the year 2015. This was reported by the country’s statistics think tank, National Bureau of Statistics in its quarterly job creation survey released recently.
According to the report, the jobs generated consists of people with low skilled and wages in agriculture, especially in the wholesale and retail trade. “In the first quarter of 2015, 332,403 new jobs were created in this sector, compared to 227,072 new jobs in the 4th quarter of 2014; this signifies a 46.39 percent increase between the two periods and represented 71% of total jobs created in Q1 2015, the largest share of total jobs in any quarter since 2012,” the report highlighted.
The organization said the increase is expected, considering the numerous informal economic activities that occurred during last general elections in the country. This quarter report shows that formal sector, which usually attracts a number of graduates seeking ‘white collar-jobs’, only generated 130, 941 jobs representing 27.92% of the total jobs created during the quarter. “This is a decline of 5.13percent (7,085) when compared to the fourth quarter of 2014,” the report emphasized.
The objective of the quarterly survey is to track the number of jobs being created in the economy within a given period of time, provide multi-sectoral and policy relevant data on the employment-generating sectors, seasonality in employment and the labour market. As a nationwide survey, this quarter study sampled opinion of 5000 establishments across the country, covering all sectors of the economy.