The Ghanaian government's efforts in addressing the unemployment challenges there have started bearing good results.
Accra - Ghana's Minister of Finance and Economic Planning Kwadwo Baah-Wiredu was speaking at the unveiling of two reports on employment statistics here last week, the Report on Jobs Tracking Survey, 2006 and Ghana: Advertised Job Vacancies 2006.
The reports revealed that over 186,000 jobs were created between January and September 2006, including over 91,000 placements under the National Youth Employment Programme.
It however, recorded there were over 32,550 job losses, leaving over 153,480 jobs created during the survey period.
The study also found that over 27,950 establishments had offered placements under the On-the-Job-Training, internships, vocation employment and Attachment Programmes while various establishments during the same period retained 954 National Service Personnel.
It was clear he said that Ghana was on course in addressing the unemployment challenge, adding that the way ahead would require new policy responses.
Baah-Wiredu expressed the hope that these studies would lead to the development of a database for the continuous measurement and monitoring of jobs created.
Deputy Government Statistician Professor N.N.N. Nsowah-Nuamah said recognising the fact that credible statistics on job creation would aid decision-making, the Ghana Statistical Service (GSS) had developed a mechanism for providing up-to-date data on the labour market to help monitor job creations in the various sectors.
Prof Nsowah-Nuamah said the unveiling of the reports would inform the public about the efforts being made by GSS in providing timely and evidence-based data on the monitoring of the implementation of the 2006 Budget Statement to create jobs in the country.
According to estimates, Ghana has roughly twice the per capita output of the poorest countries in the Economic Community of West African States region.
However, the country remains heavily dependent on international financial and technical assistance.
Gold, timber, and cocoa production are major sources of foreign exchange and the domestic economy continues to revolve around subsistence agriculture.
This accounts for 37% of GDP and employs 60% of the work force, who are mostly, small-scale landowners.
In terms of import partners, 2005 figures put Nigeria first at 15.2%, China 12.5%, the US at 6.3%, United Kingdom at 5.2%, South Africa at 4.5%, Brazil 4.1% and the Netherlands 4%.
These figures are promising and indicate that South Africa would do well to step up its investment efforts and take advantage of the opportunities Ghana's emerging economy presents.Article published courtesy of BuaNews