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Ghana's unemployment rate reaches 14.7% in 2023, records show gender disparity

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Ghana’s unemployment rate reaches 14.7% in 2023, records show gender disparity

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Ghana's unemployment rate reaches 14.7% in 2023, records show gender disparity

Ghana's unemployment rate reaches 14.7% in 2023, records show gender disparity

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Ghana’s unemployment crisis has deepened, with the country’s average unemployment rate surging to 14.7 percent during the first three quarters of 2023, according to data from the Ghana Statistical Service (GSS).

The figures reveal a concerning trend, with the number of unemployed youth aged between 15 and 35 increasing from about 1.2 million to over 1.3 million over the same period. Notably, the rate of unemployment among females consistently exceeded that of males.

The findings, sourced from the Annual Household Income and Expenditure Survey Quarter Three Labour Bulletin, highlight the severity of the unemployment situation, particularly among Ghana’s youth demographic.

Key points from the survey indicate:

  • A sharp increase in the unemployment rate among females between the fourth quarter of 2022 and the first quarter of 2023, leading to a wider gender gap in unemployment in 2023 compared to 2022.
  • Approximately 440,000 individuals joined the labour force between the first and third quarters of 2023, with more than 60.0 percent of them finding employment during this period.
  • Despite variations in urban employment rates, the number of employed persons in urban areas remained relatively stable throughout the first three quarters of 2023. Conversely, rural areas experienced a temporary increase in employment before declining in the third quarter of 2023.
  • The disparity in unemployment rates between urban and rural areas widened throughout the first three quarters of 2023, with the urban unemployment rate nearly doubling that of rural areas in the second and third quarters.
  • The overall unemployment rate among females consistently surpassed that of males, underscoring the gender disparity within the workforce.
  • The labour force participation rate experienced a significant increase between the fourth quarter of 2022 and the first quarter of 2023 but remained stable throughout the subsequent quarters.
  • The ability of the labour market to absorb individuals seeking employment, as indicated by the absorption rate, showed an upward trend from the second quarter of 2022 to the third quarter of 2023.

These statistics paint a bleak picture of Ghana’s employment landscape, highlighting the urgent need for targeted interventions to address unemployment, particularly among the youth and females, and importantly to foster inclusive economic growth and development.

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Hajia 4Real pleads guilty to romance scam, faces $2M fine and 5 year maximum sentence

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Famed Ghanaian socialite, Hajia 4Real, whose real name is Mona Faiz Montrage, has pleaded guilty to charges relating to her involvement in a string of romance scams and money laundering schemes. The plea was made today in front of U.S. Magistrate Judge Sarah L. Cave. The indictment, comprising six counts, outlined Montrage's role in orchestrating various romance scams and subsequently laundering the illicit proceeds. Her arrest occurred in the United Kingdom on November 10, 2022, and she was later extradited from there on May 12, 2023, to face trial in the United States. Initially set to appear before U.S. District Judge Paul A. Crotty on May 24, Montrage's legal proceedings faced multiple delays. The pre-trial conference scheduled for October 6 was postponed by a month, and on November 8, Montrage's new legal representation requested an additional 60 days, further prolonging the process. However, today's developments mark a significant milestone as Montrage entered a guilty plea for her involvement in the conspiracy to receive stolen money. This plea carries a maximum sentence of five years in prison. Additionally, she has agreed to forfeit a staggering sum of $2,164,758.41, believed to be proceeds from the illicit activities, and to make restitution in the same amount. The bond for Montrage's release had been secured with co-signers Hashimiyu Haruna, Fatahia Chung, and Ayisheto Al Hassan, reflecting the complexity and seriousness of the case.

Hajia 4Real pleads guilty to romance scam, faces $2M fine and 5 year maximum sentence

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