The Bank of Ghana data indicates declining rate of jobs availability as recorded in October 2023.
This is based an index of number of jobs advertised in the media, which partially gauges labour demand in the economy, decreased in October 2023 relative to what was observed in the corresponding period a year ago.
In total, 2,999 job adverts were recorded in October as compared with 3,055 for the same period in 2022, indicating a marginal decline of 1.8 percent (year-on-year).
On a month-on-month basis, the number of job vacancies remained largely unchanged from the 3,018 jobs advertised in September 2023.
Cumulatively, for the first ten months of 2023, the total number of advertised jobs went up by 6.5 percent to 28,320 from 26,595 recorded during the same period in 2022.
The total number of private-sector SSNIT contributors, which partially gauges employment conditions, improved by 3.1 percent to 964,015 in September 2023, compared with 934,683 for the same period in 2022.
On a month-on-month basis, total number of private-sector SSNIT contributors remained largely unchanged from the 971,030 individuals recorded in August 2023. Cumulatively, for the first three quarters of 2023, the total number of private sector contributors increased by 2.4 percent to 8,715,440 from 8,511,467 recorded over the corresponding period in 2022.
The total private sector workers’ contribution to the SSNIT Pension Scheme (Tier-1) increased by 31.9 percent in year-on-year terms to GH¢345.16 million in September 2023, from GH¢261.63 million collected during the corresponding period in 2022.
Cumulatively, for the first three quarters of 2023, the contribution grew by 27.9 percent to GH¢2,953.16 million, relative to GH¢2,308.85 million recorded in the same period in 2022.
Jobs creation and availability is a major area of the economy management that needs all the necessary attention and focus of every government, politicians and private sector players.
The editorial team is therefore urging the government to up its game on its efforts in job creation to help reduce the growing unemployment rate which could be described as a ‘national canker’.
