Ghana’s unemployment rate has climbed to a concerning 14.7%, according to the latest figures from the Ghana Statistical Service (GSS).
The rise in unemployment is particularly pronounced among the nation’s youth, with the number of unemployed individuals aged between 15 and 35 years old increasing from 1.2 million to over 1.3 million within the past year.
The surge in youth unemployment is alarming for a country where young people constitute a significant portion of the population. This increase has fueled concerns among policymakers, economists, and the general public about the future of Ghana’s economy and the potential social implications of high youth joblessness.
Ms Rashida Saani, the Group Chief Executive Officer (CEO) of I-ZAR Group, emphasized the importance of fairness in Ghana’s fight against unemployment, particularly among the youth. Citing recent data from the Ghana Statistical Service, she highlighted that Ghana’s unemployment rate stands at 14.7%, with the number of unemployed youth between 15 and 35 years old rising from 1.2 million to over 1.3 million.
“These figures represent not just numbers but real lives, aspirations, and the growth potential that we as a nation must harness,” she said.
Speaking on The Ghana Report maiden Jobs and Entrepreneurship Fair which will start from Thursday, September 19, to Saturday, October 5, 2024, in Accra, she called for a multi-faceted approach that includes improving the quality of education, investing in sectors with high growth potential, enhancing access to credit for small and medium-sized enterprises (SMEs), and fostering a more conducive environment for private sector growth.
Focusing on the importance of the fair, the CEO stressed that a significant feature of the fair would be its focus on merit-based recruitment. The move, she stressed, aimed to level the playing field for job seekers, eliminate biases, and ensure a transparent hiring process.
According to the CEO, the approach not only will help reduce unemployment but also ensured that employers find the most qualified talent to drive their businesses forward.
The CEO announced that novel business plans would be selected under a three-tier funding scheme, providing financial backing for innovative ideas that had the potential to create jobs and stimulate economic growth.
Mr. Emmanuel Kwasi Afriyie, the Director of Corporate Affairs at the Youth Employment Agency, expressed delight over the partnership between his outfit and The Ghana Report, stressing that the fair would not only provide job seekers with opportunities but also offer employers a unique platform to engage with a wide range of candidates.
Participants can also expect to acquire practical skills through rapid skills acquisition training, covering areas such as CCTV installation, solar panel installation, fashion design, STEM, and more.
