Basic Information of Thursday, 15 August 2019
About 422,000 Ghanaians are at the moment with out work and aggressively trying to find jobs, in accordance with figures from the Labour Ministry.
The Minister of Employment and Labour Relations, Ignatius Baffuor Awuah, throughout his flip on the Meet the Press collection on Thursday, stated Ghana’s unemployment fee stands at three.7 p.c.
“People who find themselves truly not working and made efforts to search for work and didn’t acquire work summed as much as 422,000. So strictly talking these are the unemployed individuals that we’ve got on our hand,” he stated.
The Minister, nonetheless, famous that a further 417,000 individuals have given up on the lookout for jobs out of frustration and lack of hope.
“I may also agree that, anyone will determine that I cannot go and search for jobs in any respect as a result of even when I’m going I cannot get. So I’ll make no effort…Their quantity is 417,500. So should you add that to those that are on the lookout for work however should not getting it, the share then strikes [from 3.7%] to 7.1%.”
The Minister additionally stated a complete of 611,397 new jobs have been created within the formal sector.
Out of the quantity, the Minister stated 343,458 had been employed by the varied Ministries, Departments and Businesses (MDAs).
He stated the remaining 267,939 had been employed within the “formal non-public sector.”
The Planting for Meals and Jobs venture was the largest contributor to new jobs over the past two years.
The venture in accordance with the Minister ensured the creation of 1,539,000 new jobs in Agriculture, which accounts for 38 p.c of all employed individuals.
The Minister cited the Planting for Meals and Jobs coverage, Rearing for Meals and Jobs, Modules beneath the Youth Employment Businesses, Nationwide Builders Corps amongst others as contributing insurance policies.
He additionally indicated that the Ministry’s evaluation reveals that “One of many main contributors to the decline in unemployment has been the introduction of the Free Senior Excessive Faculty Coverage.”
So far as the workforce is worried, 11,058,357 persons are famous as being employed at the moment and 1,143,275 individuals are famous as “working for all use” or being volunteers.
The Ghana Customary of Residing survey performed by the Ghana Statistical Service in 2013 pegged the unemployment fee at 5.2 p.c.
In accordance with Statista, in 2018, the unemployment fee in Ghana was at roughly 6.71 p.c.
Buying and selling Economics’ final determine on unemployment was in 2017 the place it stood at 2.four p.c.
In accordance with them, the Unemployment fee in Ghana averaged 5.41 p.c from 1991 till 2017.
It reached an all-time excessive of 10.40 p.c in 2000 and a report low of two.20 p.c in 2013.
The unemployment fee measures the variety of individuals actively on the lookout for a job as a proportion of the labour power.