Thread by @fimiletoks

Where I sat this evening, yet again I had to explain the difference between unemployment and job loss. Why is it that simple things are too difficult for people to understand? We all see the unemployment figures, they are a combination of 3 factors - people entering..

into the Labour market, people exiting the Labour market and job losses. It is sad that even notable politicians including presidential aspirants cannot differentiate between Unemployment and job loss..
A fresh graduate looking for a job how does that equate to job loss?

We have the supply side ( the tap ), population growth i.e those who attain the Labour age of 15 years looking for jobs and the fresh graduates entering into the Labour market.
We have the Labour market itself which is like a bath tub with a drain.

To slow down the rate of unemployment we can either slow down the tap pouring water into the tub ( new entrants either by population growth / age ) or plug the drain of the tub by preventing job losses.

People also quit their jobs for several reasons, study, migration..

Health reasons, marriage, child birth and a lot of other reasons. Nigerians quit their jobs yearly to school abroad. So job losses at times do not equate sack or terrible economic situation. How many companies sacked workers because they got affected by the economy?

Ignorance is when anyone assumes that 13.5 m Nigerians who are unemployed lost their jobs. Where were they employed pre Buhari? Including millions of kids who turned 15 years over the past 4 years or thousands of students who graduated from the higher institutions?

I have asked anyone here with facts to tell me any company that downsized heavily between 2015 and 2018. Please find out from the major employers, I know for a fact that the banks, telcos, manufacturing giants all have been recruiting..they have their training schools active..

Go to the Pension fund administrators and find out how many people got employed in the formal sector.
Agric has also employed a whole number of people, construction, oil and gas..

The point is clear, how many jobs were gained and how many people lost their jobs..

Did Buhari do well enough to stimulate the various sectors to prevent job losses, Yes! On the average. Did he create jobs, Yes.. through several interventions in Agric, Npower and other social intervention programs..

Do we have a problem with unemployment? Yes

Our population growth rate is alarming, 2.9% per annum. 36.9 births per 1000 population, crude death rate 11.8 per thousand..

I am sure that at least 2m Nigerians clock 15 years annually. Out of these figure, 50% will enter into the Labour force i.e they will seek for jobs..

So we have a problem with population growth and an educational system that does not train 15 year olds to be employable either formally or via vocational education.

It is total ignorance to assume that unemployment equates job loss. The way supposedly educated people speak

about this issue is embarrassing..

How many people lost their jobs or were laid off in this Buhari regime? Do you have the figures?
How many people got employed in during the period?
How many new jobs were created during the period?

You don't have these figures but you jump from one TV station to another screaming 'unemployment' and the TV station will label you a political analyst of social commentator..

You are simply an ignorant fellow including the presidential aspirsnt who keeps screaming jobs..