Labour Productivity (Q4 2016)
In the fourth quarter of 2016, Nigeria economy, though showing signs of recovery, recorded its 4th consecutive quarterof negativegrowth, with the economy declining by 1.58%. The constraints on productivity of labour and other factor inputs continues to put a drag on overall economic growth and this was further exacerbated in the fourth quarter of 2016. A growing unemployment rate of 14.2% in the 4thquarter, up from 13.9% in the 3rdquarter, coupled existinginfrastructural challenges, remain considerable threats to realising Nigeria s full economic and productivity potentials. The purpose of this brief report is to review recent trends in labour force and labour productivity in Nigeria, with a view to highlighting possible areas of interest in the analysis of labour productivity in Nigeria.
Data source: National Bureau of Statistics