GENERAL NEWS

Ghana’s youth unemployment rate 7.16% – AfDB

The African Development Bank (AfDB) reports that Ghana’s youth unemployment rate stood at 7.16% in 2023, with the issue particularly acute among those aged 15 to 24.

The bank’s updated 2024 Africa Economic Outlook highlights that unemployment is significantly higher among women in this age group compared to their male counterparts.

The report notes a slight increase in multidimensional poverty, rising from 46% in 2017 to 46.7% in 2022, largely attributed to the lingering effects of the Covid-19 pandemic.

The data shows that female youth unemployment reached 36.7%, while the rate for males was 29.3%.

Rising youth unemployment in Ghana is a growing concern, prompting calls for intensified structural transformation.

The report points out that productivity in the services sector, the largest employer, has stagnated, while gains in industry and agriculture remain modest.

Agriculture’s share of employment fell from 53.9% in 2007 to 29.8% in 2019.

In contrast, industry’s share increased from 14.1% to 21.0%, and the services sector saw its share rise from 31.9% to 49.2%.

The AfDB suggests several measures to fast-track Ghana’s structural transformation. These include enhancing competitiveness by addressing infrastructure bottlenecks, accelerating agro-industrialization through skills development and value addition, and bolstering private sector growth.

Additionally, the report emphasizes the need for a robust policy framework to support technology adoption and innovation.

 

Source: classfmonline.com

Ogyem Solomon

Solomon Ogyem – Media Entrepreneur | Journalist | Brand Ambassador Solomon Ogyem is a dynamic Ghanaian journalist and media entrepreneur currently based in South Africa. With a solid foundation in journalism, Solomon is a graduate of the OTEC School of Journalism and Communication Studies in Ghana and Oxbridge Academy in South Africa. He began his career as a reporter at OTEC 102.9 MHz in Kumasi, where he honed his skills in news reporting, community storytelling, and radio broadcasting. His passion for storytelling and dedication to the media industry led him to establish Press MltiMedia Company in South Africa—a growing platform committed to authentic African narratives and multimedia journalism. Solomon is the founder and owner of Thepressradio.com, a news portal focused on delivering credible, timely, and engaging stories across Ghana and Africa. He also owns Press Global Tickets, a service-driven venture in the travel and logistics space, providing reliable ticketing services. In addition to his media ventures, Solomon serves as a Brand Ambassador for Alabuga, a prominent Russian industrial company, representing their interests and expansion across Africa. He previously owned two notable websites—Ghanaweb.mobi and ShowbizAfrica.net—both of which contributed to entertainment and socio-political discussions within Ghana’s digital space. With a diverse background in media, digital journalism, and business, Solomon Ogyem is dedicated to telling impactful African stories, empowering youth through media, and building cross-continental media partnerships.

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