Former President John Dramani Mahama asserted that Ghana’s unemployment rate had reached its highest point, marking the first occurrence of such a high rate in the nation’s history.
During a speech at the graduation ceremony of the Academic City University College over the weekend, Mr. Mahama pointed out that there were very few job opportunities for graduates, leading to extended periods of unemployment for many of them.
He recalled that during his tenure, there were abundant job opportunities, and for those interested in teaching, automatic postings were provided.
However, the former president noted that the situation has changed significantly, with fewer job openings and reduced retention of individuals after their national service.
In addition, Mr. Mahama expressed concern over the state of the local economy, stating that it was in a state of disarray.
While delivering his speech, he said, “We left the university gates and walked into ready jobs waiting for us. There was automatic posting if you wanted to go into teaching. Many of us were retained and absorbed into workplaces where we had been posted for National Service…Our colleagues who made first class were quickly snapped up by prestigious banks and private corporations like UAC, Lever Brothers, now Unilever, and Standard Chartered Bank as management trainees.”
“There are no ready jobs to absorb you. It may take years for you to find decent employment. There are cases of students who remain unemployed five years after completing university. Unemployment in Ghana is at its highest in history today, estimated at 13%. Our economy is in crisis. The closure of indigenous banks and the banking sector cleanout have led to the loss of several jobs,” John Dramani Mahama stated.