THE ILLUSION OF GDP GROWTH RATE AND EMPLOYMENT GENERATION IN NIGERIA

This work attempts to look at the illusion about GDP growth rate, in relation to employment generation in Nigeria, within the backdrop of Irish and other experiences, with simultaneous growth in GDP and employment. The study also uses econometric technique to evaluate the impact of GDP growth rate on employment. It is clear that sluggish GDP growth rate that was experienced in Nigeria, from 1991-1999, which improve significantly from 2000-2006, failed to improve labour market situation. It established that GDP growth rate in Nigeria has not been consistent and sustained enough to impact on employment growth. It therefore, suggests that, if GDP is to remain a good indicator of growth in employment, it growth rate must be consistent and sustained at least in the medium term.