"Over 54,000 individuals lose jobs in agriculture and industry sectors"

" Over 54,000 individuals lose jobs in agriculture and industry sectors \r\n\r\nThe Ghanaian labor market continues to experience significant challenges, as evidenced by the latest report from the Ghana Statistical Service (GSS). According to the Q3 2022 Annual Household Income and Expenditure Survey (AHIES) and Labor Statistics report, over 54,000 individuals lost their jobs and became unemployed during the third quarter of 2022. The majority of these job losses were concentrated in the agriculture and industry sectors.\r\n\r\nThe report further revealed that some 42,899 individuals moved from the agriculture sector to industry within Q1 and Q3, while 96,939 individuals moved from industry to the agriculture sector within the same period. Additionally, over 120,000 individuals moved from the industry sector to the services sector, with some 81,776 individuals moving from the services sector to the agriculture sector. Unfortunately, movement within the two sectors resulted in some 38,242 individuals losing their jobs and becoming unemployed.\r\n\r\nDespite these challenges, there was some good news in the report, as the proportion of the labor force in \"vulnerable employment\" declined slightly to 63.6% in Q3 2022, compared to 67.6% and 66.8% in Q2 and Q1 2022, respectively. The GSS defines \"vulnerable employment\" as employment on own account (self-employed without employees) or contributing family workers.\r\n\r\nWhile the decline in the vulnerable employment rate is encouraging, the report highlights the gender disparities that persist in the labor market. Of the 63.6% vulnerable employment rate recorded in Q3 2022, 73.9% were females, with 51.9% being males. This highlights the need for targeted policies and interventions to support the economic empowerment of women in Ghana.\r\n\r\nDespite the challenges in the labor market, there was some growth in the total number of the country's labor force, which increased from 10.66 million in Q2 2022 to 11.09 million in Q3 2022. However, the report notes that there are still some 1.76 million individuals in the labor force who are unemployed, though they are available for work.\r\n\r\nOn a positive note, Ghana's unemployment rate declined marginally from 13.9% in Q2 2022 to 13.7% in Q3 2022, suggesting that efforts to improve the labor market situation are beginning to bear fruit. However, much more needs to be done to create employment opportunities, especially in the agriculture and industry sectors, which are critical for Ghana's economic growth and development."

"Over 54,000 individuals lose jobs in agriculture and industry sectors"

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