According to the ILO, the unemployment rate, as captured by economics trading.com, has averaged 6.17% in the last 30 years in the fourth republic and currently stands at about 4.53% in 2020. A trend analysis of the unemployment rates in the 4th Republic since 1991 reveals a steady rise in the unemployment rate from 4.66% in 1991 to a peak level of 10.4% in 2000 during the Rawlings regime. Comparatively the latest statistical evidence of 4.12% unemployment rate for 2019 thus makes it the lowest unemployment rate ever recorded in the last 30 years in Ghana. Notwithstanding this achievement of the current government, it must be recognised that the current unemployment rate is still relatively high, given that the rate seems to have risen from 2.8% in 1984 to its current levels. The inability of the economy to generate enough jobs to meet that requirement lends credence to the threat that the high youth unemployment poses to the country’s security.

Source: GhanaWeb September 20, 2021 15:45 UTC