An Economist at the Institute of Statistical, Social and Economic Research (ISSER), Professor Charles Ackah has complained about the increasing spate of unemployment in the country.
According to him, out of every three young people in Ghana, one is unemployed.
The situation, in his view, is precarious and must be addressed with urgency.
“Unemployment now stands at over 20 percent. Youth unemployment about 33 percent. Every 3 youth you find in Ghana, one is unemployed and looking for job desperately,” he said on JoyNews’ PM Express Business edition on Thursday.
He further added that for the economy to be sustainable, government must invest in long-term goals including building the capability of the youth.
“We need to look at both the long-term and short-term sustainability. We have agreed on some long-term development goals and those goals must not be sacrificed,” he noted.
Ghana’s economic situation has not been the best in recent times.
With the hike in fuel prices and cost of transportation, many Ghanaians are complaining of their dire financial crisis.
During the mid-year budget reading, Finance Minister, Ken Ofori-Atta attributed the crisis to Covid-19 and the Russian-Ukraine war.
He also announced policies that the government has implemented to cushion the citizenry from the impact of the two global challenges.
While acknowledging that the budget was “good enough to some extent”, Prof Ackah noted that the aggravating hardships Ghanaians are experiencing at this time indicates “over the last 60 years, we have not done the right thing”.
Latest Stories
-
Jordan Ayew and Jeffrey Schlupp up for Crystal Palace Goal of the Season award
1 min -
Deputy Director of Health Services calls for stakeholder support to ensure child health and vaccination success
14 mins -
Kwame Sowu: The Perils of Posting Before Thinking: A call to re-evaluate our Social Media Habits
25 mins -
Unfortunate ‘dumsor’ era will not return under my presidency – Akufo-Addo to Ghanaians
50 mins -
Medeama’s TnA Stadium nears commissioning after latest update
1 hour -
Fighting Malaria: Volta Region achieves 98% target in treated net distribution
1 hour -
You have a special role in shaping our elections – Akufo-Addo to Ghanaian workers
2 hours -
ECG staff walkout during Ashanti Regional Minister’s speech at May Day event
2 hours -
Seventy percent of SMEs productivity lost to power crises in Central Region
2 hours -
We commend Bawumia for waking others up to come home and develop – Savannah NPP chair
2 hours -
SML-GRA contract – Legal Practitioner counters KPMG findings on parliamentary ratification
2 hours -
Do something about dumsor now – TUC tells Akufo-Addo at May Day event
2 hours -
Viewing Economics from a female lens: Legacy of Ghana’s first female Professor of Econs
3 hours -
Vaccines are safe, get your children immunized against killer diseases – Ghana Health Service
3 hours -
Glovo, five other multinational brands, and why they left Ghana
3 hours