29% of salary earning employees more productive than self-employed – World Bank

Ghana’s underemployment rate increases

A chunk of young people are self-employed, World Bank

Insufficient job provision for low-skilled workers, World Bank

Data from the World Bank has shown that 25 percent of Ghanaians who receive wages are more productive than the 69 percent of Ghanaians who are self-employed.

According to Social Protection Specialist at the World Bank, Christabel Dadzie, policymakers need to take this into consideration when drafting policies that affect employment.

“69% of those working in Ghana are self-employed. So, if you are a policy maker and you looking to support unemployment, you need to know there are a chunk of young people who are in self-employment”.

People in wage employment are more productive while those employed for the most part are vulnerable, she said, adding, “and within this area, the majority are women, the poor, and people living in rural areas.”

She was speaking at the 6th Ghana Economic Update by the World Bank where she noted that Ghana has not created an atmosphere for good job opportunities especially among the youth.

Ghana’s youth underemployment rate is reaching 50 percent, higher than that of other countries in Sub-Saharan Africa.

According to the World Bank, the country’s education system is also not producing the necessary skills needed by the economy.

“Ghana’s labor force is characterized by falling participation rates and low levels of educational attainment," it said.

The report also said Ghana’s economy provides insufficient quality job opportunities for workers with low skills.

SSD/MA