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Post-Consolidation Employment Growth In The Banking Sector: The Case Of First Bank of Nigeria Plc

Aniebo CAJ, Oguanobi C and Akamobi A

This paper evaluates post-consolidation employment growth in the Nigerian banking sector using First Bank of Nigeria Plc as a case study. Employing an empirical simple correlation analysis between employment growth and earnings performance, and between the ranks of employment growth and growth in gross earnings, it was found that, contrary to a priori expectations, the correlation was very low in both cases with explanatory power of only 1.53% in the case of Pearson��?s simple linear correlation coefficient. This development was attributed to banking sector��?s efficiency wage payment policy, which policy promotes unemployment. Labour-intensive growth path was recommended for the banking industry in Nigeria which remains a labour abundant, developing country, and which has been plagued by persistent and high unemployment for decades.