According to the Centre for Socioeconomic Studies, over three million Ghanaians have had their means of livelihood impacted by job losses between 2017 and 2018.
In just over 12 months, over three million livelihoods have been negatively affected by job cuts in Ghana. This is according to the Centre for Socioeconomic Studies (CSS).
According to the civil society body, Ghana's employment sector has been characterised by massive job cuts owing to economic meltdown. This has forced several organisations to downsize their workforce to be able to keep afloat.
In its annual report that was first carried by Pulse.com.gh, CSS said the situation has disastrous social implications for crime and security in Ghana.
The report said: "Government spending should adequately respond to sustainable job creation, given the presently low levels of investment in productive capacity evidenced in the high recurrent expenditure trends against significantly low capital expenditure."
The New Patriotic Party (NPP) upon assuming power in January of 2017, promised to undertake a massive employment scheme to help mitigate unemployment challenges of young people.
One of the government interventions on employment is the National Builders' Corps of NABCO. President Akufo-Addo is set to announce commencement this week.
But the CSS has described the NABCO initiative as "plastering a bleeding wound." The Centre has predicted a less-than-impacting end to the initiative very soon.
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