Ghana’s economy has been expanding steadily, thanks to gold, oil, and other extractive industries. These sectors bring in billions of dollars, boosting the country’s GDP.
But here’s the problem: while the economy grows, good jobs remain scarce. Many Ghanaians, especially young people, struggle to find stable, well-paying work.
According to findings from the Ghana Statistical Service (GSS), the gap between economic growth and job creation keeps widening. The mining sector, for instance, is highly productive but does not generate enough jobs.
Meanwhile, most people still rely on informal work, small businesses, farming, and trading, where incomes are unstable and job security is low. Even though Ghana’s economy is modernizing, not everyone is benefiting.
The GSS report shows that Ghana has made some progress in labour productivity since 1991, performing better than most lower-middle-income countries. The discovery of oil in the early 2010s further boosted productivity, with notable growth from 2010 to 2016.
Manufacturing has also seen a 14% rise in productivity between 2013 and 2022, but job growth in that sector has been slow, only 2.5% over the same period.
While industries like finance and insurance are creating jobs, they mostly favor highly skilled workers, leaving many young people without opportunities.
Meanwhile, traditional sectors like agriculture and small-scale crafts, which used to provide livelihoods for many, are losing workers to urban construction and low-paying service jobs.
The big question remains: where will Ghana’s next wave of good jobs come from? The GSS suggests that the country must focus on developing industries that create sustainable employment, particularly manufacturing, modern agriculture, and technology.
Without this shift, economic growth will continue to benefit a few while many struggle to make ends meet.
Source: thehighstreetjournal.com
