Almost half a million jobs created in 1st quarter of 2015

National Bureau of Statistics (NBS), yesterday said that a total number of 469,070 jobs were created in the
first quarter of 2015.
In its report of job creation survey for the first quarter of 2015, the report said that it is an increase of 26.95 per cent (99,585) over the number of jobs in the preceding quarter.
The report also said that in the formal sector, which is predominantly “white collar job”, 130,941 new jobs were generated, representing 27.92 per cent of total jobs generated in the first quarter of 2015.
“This is a decline of 5.13 per cent (7,085) when compared to the fourth quarter of 2014. However, this decline in the formal sector jobs often sought after by graduates created in Q1 2015 represents the third straight quarter of consistent reduction in formal sector jobs. On the other hand, there was also a 30.5 per cent (1,339) increase in the number of jobs created in the public sector of the economy, making it 5,726 new jobs generated in the public sector in the first quarter of 2015, the jobs generated in the public sector represents 1.2 per cent of the total jobs generated during the reference period.” NBS, said.
According to report, under informal jobs, which typically consists of low skilled and often low paying jobs generated by individuals or micro businesses employing less than 10 or those businesses operating with little or no structures e.g. those in subsistent agriculture and wholesale and Retail Trade, in the first quarter of 2015, 332,403 new jobs were created in the sector, compared to 227,072 new jobs in the 4th quarter of 2014.
This, the report, said, signifies a 46.39 per cent increase between the two periods and represented 71 per cent of total jobs created in Q1 2015- the largest share of total jobs in any quarter since 2012.
“This sharp increase in informal sector jobs is very much expected, given the numerous informal economic activities that come on during election periods. Additionally, the declining availability of formal sector jobs relative to demand for them is resulting in unsuccessful job seekers establishing micro businesses and engaging in more informal, lower skilled and often lower paying economic activities to make ends meet,” the report, noted.
Sun