In the initial three quarters of 2023, the nation witnessed a surge in the average unemployment rate, reaching 14.7 percent. Corresponding data extracted from the Ghana Statistical Service's Annual Household Income and Expenditure Survey Quarter Three Labour Bulletin revealed that the number of unemployed individuals aged 15 to 35 increased from approximately 1.2 million to over 1.3 million during this period. Notably, the unemployment rate was consistently higher among females than males.

0

The survey findings also highlighted a temporary decline in youth unemployment during the second quarter of the preceding year, 2022. However, the sharp rise in the unemployment rate among females between the fourth quarter of 2022 and the first quarter of 2023 resulted in a broader gender gap in unemployment in 2023 compared to 2022.

1

The labor force saw an influx of about 440,000 individuals between the first and third quarters of 2023, with more than 60.0 percent of them securing employment.

2

Interestingly, throughout both 2022 and 2023, more females than males found employment, with the gender difference in employment figures averaging around 600,000 in 2022 and 900,000 in 2023.

3

While the number of employed individuals in urban areas remained relatively constant in the first three quarters of 2023, rural areas experienced a continuous increase in employment for five consecutive quarters from the second quarter of 2022. However, there was a decline in rural employment in the third quarter of 2023. The disparity in unemployment rates between urban and rural areas consistently widened in the first three quarters of 2023, with the urban unemployment rate being almost twice that of rural areas in the second and third quarters of 2023.

4

5

6

The overall average unemployment rate for the first three quarters of 2023 stood at 14.7 percent, with females consistently experiencing a higher rate than males. The gender gap in unemployment widened due to a significant increase in the unemployment rate among females from the fourth quarter of 2022 to the first quarter of 2023.

7

Although the labor force participation rate exhibited a notable increase between the fourth quarter of 2022 and the first quarter of 2023, it remained stable throughout the first three quarters of 2023. Concurrently, the labor market's ability to absorb individuals seeking employment, as indicated by the absorption rate, consistently improved from the second quarter of 2022 to the third quarter of 2023.

8