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Job cuts leave Nigerians insecure of well-being

06 September 2016, 21:23

Lagos - In a trend linked to massive layoffs of workers as companies cut on costs, a decline has been noted in the satisfaction of Nigerians with their well-being.

According the Portfolio of Indices report released by NOIPolls Limited for the second quarter of the year, has revealed that the NOIPolls Personal Well-Being Index (PWBI), which assesses how Nigerians feel about their lives, declined by 0,6-points to stand at 63,9-points.

A detailed analysis of the individual indicators that make p the PWBI revealed that while Nigerians were still much satisfied with their religion (89,2-points) and Social Interaction in their society (78,4-points).

Nigerians showed further dissatisfaction with their Standard of living (48,3-points) and Personal economic situation (38,9-points), even as these indices experienced the highest decrease of 2-points each in Q2, 2016.

Also read: Governor El-Rufai blames CBN for job losses

The Consumer Confidence Index (CCI) further decreased by 3,5-points to stand at 56.4-points in Q2, 2016 when compared with the result (59,9-points) obtained from Q1, 2016. The CCI depicts how the purchasing power of Nigerians affects the general economy of the nation.

PWBI and CCI were conducted in Q2, 2016.

The PWBI involved telephone interviews of a random nationwide sample. A total of 3 000 randomly selected phone-owning Nigerians aged 18 years and above, representing the six geopolitical zones in the country, were interviewed.

“With a sample of this size, we can say with 95 percent confidence that the results obtained are statistically precise - within a range of plus or minus 3 percent,” NOIPolls stated. 




- CAJ News


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