Jobs must be tied to policies. Some economists recently downplayed the 9% year-over-year increase in GDP in the second quarter of 2017 for the simple reason that it did not accurately reflect the economy's performance during the review period. They said that the growth was "unproductive" because it was mostly driven by oil and didn't take into account how the real sectors were doing.
The temporary 2017 second quarter genuine Gross domestic product became by nine percent year-on-year contrasted with 1.1 percent kept in quarter two of 2016. In any case, past the presentation, they likewise talked about the way that the Gross domestic product exhibition didn't convert into the making of occupations. In addition to the fact that not enough jobs are being created to accommodate the teeming number of graduates who graduate from universities each year, this issue of job creation has been of primary concern to us due to its contribution to national development.
The people's primary directive for the government is to expand the economy and create jobs. Furthermore, that, in any event, is the quintessence of the financial change plan guaranteed by the public authority. In the past, despite the economy's consistent growth in gross domestic product, there has never been a significant increase in employment. Furthermore, that is the thing that has forever been absent in the story — the way that our financial strategies have neglected to convey occupations.
We can create jobs much more quickly than developed, mature economies because we are a developing nation. Our entire procedure of monetary arranging ought to be outfitted toward work creation. Work creation ought to be at the center of Ghana's monetary arranging system in the midst of the ongoing elevated degree of joblessness.
Tragically, for a long time in our nation, work creation has rather turned into a result of the financial arranging system and the supervisors of the economy have not put work creation at the actual focus of our monetary development procedure. Therefore, it should not come as a surprise to us that our graduates leave school and spend some time at home.
It is enlightening to take note that even in periods when our economy has performed well overall, development has not prompted the making of occupations. For example, the economy recorded 13.6 percent development in 2011 and was declared one of the quickest developing on the planet yet there was essentially nothing to show as far as occupation creation and a decrease in joblessness levels.
Even though the economy has made some progress, the unemployment rate has been rising year after year because, according to official statistics, the country's universities produce 60,000 graduates each year but there aren't enough jobs for them. In total, an estimated 250,000 young people seek employment each year. We cannot wish for job creation as a nation; It cannot be a result. Economic expansion must be the focus of our human capital development. We accept the public authority ought to convey serious areas of strength for to its obligation to work creation and the current year's spending plan should highlight that responsibility.