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Policymakers need to focus on employment generation not job creation – Prof. Baah-Boateng
Prof. Baah-Boateng
Economist, Professor William Baah-Boateng, has charged policymakers to move away from job creation to employment generation.
Using job creation as a term for temporary employment over a very short period, he noted that if policymakers continue to use ‘gigs’ to address the unemployment situation in the country, they would inadvertently create even more unemployment.
Speaking on JoyNews’ PM Express Business Edition, he said, “Yes, you’ve created that amount of job that is fine, but if you’ve created that amount of job and it’s not sustainable – it takes just a week for that job [to be done], the person will come back to ask for more.
“And that is why your unemployment rate will continue to rise because you’ve created a job for a person and that job lasted for only one month or only a week. So after that the person joins the unemployed.”
He noted that to get a clearer picture of the employment situation in the country, he advised that policymakers pay critical attention to those exiting the job market.
“When you want to talk about employment generation or you want to equate it as job creation in terms of numbers you need to look at the exit, those who are exiting, to be able to get the net. So you’re here, business desk, let’s say you have five people employed and then three leaves.
“Three of them they leave so you’re left with two and then your employers bring two so you’re four and you say ‘oh we have created jobs for two people’ that it cannot be because three people have left and replaced them by two. So if anything at all there is negative employment creation,” he said.
According to Prof. Baah-Boateng, to achieve sustainable employment policymakers would have to create jobs that can keep a person employed for at least half a year.
“So policymakers should move away from what they call job creation to employment generation. And that employment generation here we’re talking about employing somebody sustainably, and that kind of employment can last for at least six months,” he said.
His comments come on the back of the Ghana Statistical Service’s Quarterly Labour Statistics Report which revealed that about 1.76 million persons were unemployed in the third quarter of 2022.
Within this population, two out of every three unemployed persons were females.
Across the three quarters, about 157,000 persons experienced an unemployment spell that is they were unemployed in all the quarters.
The report further said close to 7.5 million persons remained employed throughout the three quarters out of the about 11 million persons employed in each quarter.
This indicates that across the three quarters about 3.5 million persons were moving in and out of employment depicting vulnerabilities.
Source: www.myjoyonline.com
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GEXIM deepens relations with US EXIM Bank
A management team of the Ghana Export – Import Bank (GEXIM) led by the Acting Chief Executive, Sylvester Mensah met with the leadership of the Export–Import Bank of the United States (US EXIM) on Wednesday April 23, 2025 in Washington DC, United States of America.
The Acting President and Chairman of US EXIM, Mr. James C. Cruse and Vice President, International Relations, Ms. Isabel Galdiz received the GEXIM delegation, which included Deputy CEO for Banking, Mr. Moses Klu Mensah and Head of International Cooperation, Mr. Jonathan Christopher Koney at the headquarters of US EXIM.
The meeting offered the GEXIM team the opportunity to share the strategic direction of the Bank in line with the resetting agenda of the President of the Republic, His Excellency John Dramani Mahama for the repositioning of the Ghanaian economy into an export-led one by providing the requisite investment to Ghanaian businesses.
Mr. James C. Cruse expressed US EXIM’s eagerness to deepen its existing relations with GEXIM and proposed the signing of a new Cooperative Framework Agreement following the expiration of a Memorandum of Understanding signed in 2019 to utilize US EXIM’s medium term loan guarantees to procure machinery by GEXIM for qualified Ghanaian Small and Medium-sized Enterprises (SMEs).
Mr.Sylvester Mensah thanked the Acting President and Chairman of US EXIM for hosting the GEXIM delegation and reaffirmed the Ghanaian government’s commitment to strengthening trade and investment between Ghana and its global partners for economic transformation of Ghana with GEXIM playing a pivotal role.
The two teams will be meeting on the sidelines of the 2025 US EXIM Annual Conference on 29th and April 30, 2025 to explore possible areas of collaboration and matching Ghanaian businesses to American companies. The meeting ended with an exchange of gifts.
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Many SOEs have been used as mere instruments for personal wealth accumulation –Pres.Mahama
President John Dramani Mahama has expressed concern over the misuse of State-Owned Enterprises (SOEs) for personal financial gain by individuals in leadership positions.
Speaking during a meeting with Chief Executives of specified entities under the State Interest and Governance Authority (SIGA) on Thursday, March 13, the President directly attributed the dire state of SOEs to their leadership, accusing chief executives, management teams, and governing boards of prioritising personal enrichment over organisational efficiency.
He pointed to bloated budgets, unjustified allowances, and unnecessary expenditures as factors draining public funds while SOEs continue to rely on government bailouts.
“Many SOEs have been used as mere instruments for personal wealth accumulation by appointees. The chief executives, management, and boards of these enterprises are responsible for this situation. Some SOEs have become perennial loss-makers, draining public funds with bloated budgets, unjustified allowances, and unnecessary expenditures while relying on government bailouts as if entitled to them. Many of these entities are at their lowest point in the entire history of the Fourth Republic,” he said.
President Mahama further noted that many SOEs have been plagued by inefficiencies, corruption, and mismanagement, leading to consistent financial losses. He cited the 2023 State Ownership Report by the State Interests and Governance Authority (SIGA), which highlighted systemic inefficiencies and wasteful expenditures within these entities.
He therefore reaffirmed his commitment to reforming under-performing SOEs and ensuring they serve national interests.
He warned that loss-making SOEs will no longer be tolerated and will either be merged, privatised, or closed.
“I will assess you based on your performance. If you do not align with the pace of the reset agenda, you may be asked to step aside. If that adds to the horror movie, so be it,” he added.
Source: Myjoyonline.com
