… employment level index for the manufacturing sector falls to 46.3 points
… non-manufacturing employment level index falls to 45.1 point
Employment level index has recorded ninth (9th) consecutive contraction in 2020.
This was reported by the Statistics Department of the Central Bank of Nigeria, in the Purchasing Managers’ Index (PMI) Survey Report for December, 2020.
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The decline recorded again is an indication that firms are yet to recuperate fully from the impacts of Coronavirus pandemic. Especially, at a dire moment Nigerians strive to curtail the second wave of the virus.
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The report reveals that the employment index for the Manufacturing sector in December 2020 stood at 46.3 points.
Among the 14 subsectors in the manufacturing sectors, “only transportation equipment subsector recorded growth in employment level.”
While four (4) subsectors recorded unchanging employment level. Other subsectors in the manufacturing sector recorded decline.
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Employment Level Index Falls to 45.1 points
The non-manufacturing sector also recorded ninth (9th) consecutive contraction in the year.
14 subsectors recorded decline in new order for the month of December.
“2 subsectors reported stationary level, while only Electricity, gas, steam & air conditioning supply subsector reported growth in employment level (above 50% threshold).”
