Of the 80.3 Million people in the labour force. This means people who are able to and actively looking for work.

27% of those people are unemployed.

In simple terms, 21.9 million people (2/3rd the size of Ghana) are out of work.

Almost 3 in every 10 people do NOT have jobs.

We are sitting on time bomb.

These unemployed people have dependants. The unemployed people and their dependants will then become dependants to others????

This is crazy.

How do you stimulate growth or consumption?

We should all be concerned.
Let me paint a picture.

If people do not have a source of income, it eradicates or reduces their ability to consume. So they can’t afford healthcare or education for themselves or their children. The poverty gap keeps getting wider.

So you have more lower or little skilled people who can’t contribute as high to the growth compared to their skilled counterparts.

Now remember, less people can consume. What happens we begin to see a dip in revenue of SMEs (that are the back bone of a society) and others

If the SMEs can’t generate revenue, what happens? They start shedding weight. Meaning, they let go of more people.

According to PWC, SME sector creates 84% of employment.

You start to see even higher rise in unemployment numbers

Poor business policies, poor fiscal and monetary policies, poor governance etc

There is a cost for it. It is a ripple effect and drags everything down with it.