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‘Why does the economy perform well in terms of growth but struggles to create jobs?’ – Dr Baffuor

Dr. Priscilla Twumasi Baffour Senior lecturer, University of Ghana, Dr Priscilla Twumasi Baffour

Wed, 19 Jan 2022 Source: www.ghanaweb.com

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A senior lecturer at the Department of Economics, University of Ghana, Dr Priscilla Twumasi Baffour, has questioned Ghana’s inability to translate its relatively better economic performance into employment opportunities.

Dr Baffour said leaders of the country must therefore take a serious look at the structure of Ghana’s economy.

The senior lecturer who made these remarks on Joy News' 'Newsfile' added that the country had to critically evaluate its industrialisation strategy.

“As a country, we need to take a serious look at the structure of the economy. For example, why does the economy perform well in terms of growth on average but struggles to create jobs?

“Perhaps, it is time for us to pause and assess our industrialisation strategy over time. Why does it appear to be having a meaningful impact on unemployment in the country?” the lecturer was quoted by myjoyonline.com.

Dr Baffour said a report by the Ghana Statistical Service showed that even though Ghana’s economy continued to grow, very few decent jobs are created for the teeming youth.

“When you take a critical look at the jobs in the report, you see that the public sector, which is government, employs 10% of the people that are employed. 13% of the people employed in the formal sector are in the private sector. In the rest of the labour market, the employed persons are in the informal sector which is 77%,” she said.

“Informal sector continues to dominate employment in the country and it comes with its repercussions. The private sector, which is the engine of growth is clearly not expanding because it employs only 13% of the employed population,” she added.

Source: www.ghanaweb.com
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