Adnan Adams Mohammed
Verifiable statistics indicate that, Ghana’s youth unemployment rate stood at 7.16 percent in 2023.
The African Development Bank (AfDB) report further indicates that, those in the age bracket of 15 to 24 dominates the canker.
These were contained in the bank’s updated 2024 Africa Economic Outlook which also highlighted that, unemployment is significantly higher among women in this age group compared to their male counterparts. The data shows that female youth unemployment reached 36.7%, while the rate for males was 29.3%.
Consequently, the report showed a slight increase in multidimensional poverty, rising from 46% in 2017 to 46.7% in 2022, largely attributed to the lingering effects of the Covid-19 pandemic.
Meanwhile, productivity in the services sector, the largest employer, has stagnated, while gains in industry and agriculture remain modest.
Agriculture’s share of employment fell from 53.9% in 2007 to 29.8% in 2019. In contrast, industry’s share increased from 14.1% to 21.0%, and the services sector saw its share rise from 31.9% to 49.2%.
The AfDB suggests several measures to fast-track Ghana’s structural transformation. These include enhancing competitiveness by addressing infrastructure bottlenecks, accelerating agro-industrialisation through skills development and value addition, and bolstering private sector growth.
Additionally, the report emphasises the need for a robust policy framework to support technology adoption and innovation.
