A Deputy Minister of Finance, Dr. John Kumah, has reaffirmed the government’s determination to confront unemployment in the country head-on.
He highlighted several initiatives such as YouStart, the Ghana Enterprise Agency, and the National Entrepreneurship and Innovation Programme, all aimed at addressing the pressing issue of job scarcity.
According to the 2023 Annual Household Income and Expenditure Survey Third Quarter Labour Statistics Report, there’s cause for concern.
The unemployment rate for the first three quarters of 2023 stood at 14.7%, marking a 1.1% increase from the previous year’s 13.6%.
Particularly noteworthy is the disparity between male and female unemployment rates, with females consistently facing higher rates.
Dr. John Kumah acknowledged this gender gap, pointing out the notable rise in female unemployment between 2022 and 2023.
Nevertheless, he stressed the government’s dedication to attracting investments and nurturing an environment conducive to job creation.
He underscored the crucial role of entrepreneurship in tackling the unemployment crisis, urging confidence in the potential of entrepreneurship to propel economic expansion and mitigate joblessness.
“The Ghana Statistical Service on Wednesday announced that about 1.5 million Ghanaian youth are unemployed. Last year, E-levy generated GH¢1.19 billion and as part of dealing with the job situation… unemployment situation, government has committed funds through YouStart from this E-levy sources…to GEA and NEIP to address the unemployment situation in the country, and I am happy to announce that institutions like Wealth and Jobs Expo and all private groups that are willing to help create jobs in the private sector will also be supported to help create jobs and businesses in the private sector,” he said.
