CBN says the country’s economic activities expanded in August despite experiencing a decline in employment levels across sectors.
Busola AroThe Central Bank of Nigeria says the country’s economic activities expanded in August despite experiencing a decline in employment levels across sectors.
“The survey respondents were the company’s Purchasing and Supply Executives, drawn from the three sectors of the economy, namely: Industry, Services, and Agriculture,” CBN said. “The Industry sector employment index in August 2024 stood at 47.5 points, indicating a contraction in the level of employment,” the apex bank said.“Nine subsectors reported a contraction in the level of employment with the transportation equipment subsector reporting the highest contraction.”
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