The World Bank has disclosed that Nigeria created about 450,000 new jobs in 2018, partially offsetting the loss of 700,000 jobs in 2017.
According to the latest World Bank Nigeria Economic Update (NEU) Report released yesterday in Abuja, yesterday, Nigeria’s labor force is growing rapidly, and in 2018 over 5 million Nigerians entered the labor market. This resulted in 4.9 million more unemployed people in the last year.
The NEU Report said “positive news is emerging from some states that are creating enough jobs to keep up with the growth of their labor forces. In the year following the recession (between the first quarter of 2017 and the first quarter of 2018), 10 states saw some positive job creation, but the number of new jobs was not enough to absorb the new entrants into the labor force.”
There was some improvement by the third quarter of 2018, “as four states (Lagos, Rivers, Enugu, and Ondo) created more jobs than the entrants to…