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Business News of Monday, 24 February 2025

    

Source: www.ghanawebbers.com

Labour productivity grew faster than technology-based changes in output – GSS report reveals

Labour productivity grew faster than technology-based changes in output – GSS report reveals Labour productivity grew faster than technology-based changes in output – GSS report reveals

The Ghana Statistical Service (GSS) has released its first "National Report on Productivity, Employment, and Growth," analyzing trends from 1991 to 2022.

The report reveals that while labor productivity has grown moderately accelerating between 2010 and 2016 following the onset of oil extraction total productivity gains remain limited, as improvements are concentrated mainly in the mining sector.

Sectoral trends show that areas like household agriculture and trade, despite productivity gains, have experienced job losses, whereas commercial agriculture, manufacturing, transportation, and utilities have achieved both productivity gains and job creation.

Additionally, average earnings have risen at a slower pace than productivity, with utilities, construction, and tourism posting relatively higher earnings growth.

Government Statistician Prof. Samuel Kobina Annim stressed the report’s focus on policy-relevant statistics to guide economic development and informed decision-making.