The National Bureau of statistics (NBS) has released its 2014 Q4 jobs data confirming Nigeria created 369,485 new jobs in the last quarter of 2014 (265,702 2013 Q4). This brings the total jobs created in 2014 to 1,219,052 compared to 1,163,766 in 2013 and representing a 4.7% increase year on year.
The formal sector contributed a total of 138,026 new jobs in 2014 Q4 compared to 101,597 same period in 2013. Informal sector on the other hand created 227,072 new jobs compared to 143,278 a year earlier.
The NBS defines Formal jobs as employment generated in establishments that employ 10 persons and above, or formal professional services that employ less than 10 persons.
The Informal jobs are those generated by individuals or businesses employing less that 10 or those businesses operating with little or no structures e.g. those in Agriculture and Wholesale and Retail Trade.
While The Public Institutions are the Government Ministries, Departments, Agencies (MDAs), Government Parastatals, Academic and Research Institutions at Federal, State and Local government levels.
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