A political analyst who doubles as a financial engineer Mr. Alex Emmanuel Nti has stated that governments NABCO and 1D1F was a good initiative but was porrly implemented that couldn’t curb the unemployment issues in the country.
Speaking on Plan B FM’s morning show NKOSUONSEM hosted by Obidehye Kofi Sekyi, Mr. Nti opined that the Nation Builders’ Corps (NABCO) has not been effective in creating sustainable jobs for the unemployed youth.
The analyts noted that although the country has pumped in several billions of Ghana cedis into NABCO and other short-term job initiatives, they have not been effective.
Mr. Nti said unemployment remains a threat to the country and yet, our leaders are only rolling out unsustainable jobs.
He indicated that we need sustainable jobs that will resolve the unemployment crisis, syresseing that the unemployed are struggling and the government must create suitable opportunities for them.
“We need to be up and doing and ensure we create suitable jobs and not temporal jobs,” he added.
He advised the government to invest in the extractive sector since it could create new jobs.
He said, 1D1F policy is a complete failure since the government has decided to allow foreigners to establish the factories instead of empowering Ghanaians or the state to own them in the districts.
“I have not seen any factory in the constituency where I live. This government is always promising but we are yet to see the factories they keep talking about. I doubt they have lived up to their expectations. This 1D1F is a good initiative but in reality, we are not seeing anything and monies were channeled to private partnership which did not created employment vacancies to reduced unemployment” he added.
Background
An economist, Dr Ishmael Yamson has noted that unemployment remains the major challenge of every government and despite measures put in place to salvage the situation, the canker keeps deepening and getting worse.
Speaking on the rising unemployment rate in the country, Renowned economist, Dr Ishmael Yamson, questioned the number of jobs government claims it has created for the teeming unemployed youth.
According to him, the manufacturing sector, which can absorb the unemployed has been shedding numbers due to the economic crisis, hence the doubt about the government’s job-creation figures.
The economist said, “Even the manufacturing, I can bet you that 9 out of 10 factories in Ghana are shedding numbers. So those figures that we are quoting, what will they mean to people.”
He further said, “poverty levels rising means we have a problem.”
Mr Yamson stressed that government needs to be more deliberate in boosting the agriculture, manufacturing and tourism sectors because it employs large numbers of people.
Unemployment as a percentage of the labour force is expected to tick slightly to 4.0% in 2023 from 3.9% in 2022, Fitch Solutions has revealed.
Also, in a recent report released by the Institute of Statistical, Social and Economic Research (ISSER), unemployment rates are highest among female youth.
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