Ghana’s unemployment concerns

Tue, 6 Apr 2021 Source: goldstreetbusiness.com

Human resource is a very important aspect of the economic growth in a country and Ghana is no exception. It is therefore disconcerting when there is a considerable number of unemployed people belonging to the labour force.

Research has revealed that the unemployment level of Ghana stands at about 4.51% within the labour force although Ghana’s unemployment rate is relatively average compared to other Sub-Saharan countries.

The GDP per capita of Ghana is estimated to be at $2,200.00 as of 2018 and is estimated to rise depending on the growth in population and the economy. With a population of over 30 million people, almost 50% of the labour force works in the service industry and the agriculture sector claims 33%.

Ghana has an impressive growth rate in the Sub-Saharan region with a GDP of 65 billion dollars and with a projected growth of 97 billion dollars by the end of 2024. As a country with a variety of natural resources and with an economy focusing on manufacturing and exporting of digital technology goods and industrial materials, there is hope that the unemployment rate will drastically fall over the next few years.

It has to be said that although the unemployment rate stands at about 4.51%, it refers to the labour force that is actively seeking employment.

Source: goldstreetbusiness.com