Business News of Monday, 24 February 2025
Source: www.ghanawebbers.com
The Ghana Statistical Service’s first “National Report on Productivity, Employment, and Growth” reveals that average earnings in Ghana have increased at a slower pace than productivity.
The report, which analyzes trends from 1991 to 2022, shows that sectors such as utilities, construction, and tourism have experienced higher earnings growth relative to productivity, while informal sectors like household agriculture, trade, and repair services lag.
Government Statistician Professor Samuel Kobina Annim emphasized that the report focuses on policy-relevant issues: productivity, employment, and economic growth.
Although moderate labor productivity gains were achieved especially between 2010 and 2016 following the start of oil extraction total productivity growth has been limited by its concentration in mining, a sector that has not generated many jobs.
The report calls for increased investments in commercial agriculture, transportation, utilities, and manufacturing to drive broader economic benefits.