Ghana’s economy continues to record growth, but much of the workforce is “running on a treadmill”—changing jobs without meaningful gains in income or job security.
This is one of the key findings from the World Bank’s latest Ghana Economic Update, which paints a complex picture of progress and persistent challenges in the labour market.
Between 2012 and 2023, Ghana generated an additional 720,000 jobs in the industry and services sectors. However, this growth was offset by the loss of approximately 470,000 jobs in agriculture. During the same period, urban centres absorbed 2.4 million more working-age individuals, yet real wages declined by 3%, signalling that job quality has not kept pace with economic expansion.
The report highlights that job creation is lagging behind the rate of population growth. Youth participation in the labour force is falling, and an estimated one million young Ghanaians now live abroad, seeking opportunities elsewhere. Medium-skilled sectors—such as manufacturing, construction, and domestic services—remain among the slowest growing, despite their potential to drive upward mobility.
The World Bank also noted a troubling trend in education’s diminishing capacity to improve incomes. The number of graduates entering the job market now surpasses the availability of quality employment opportunities, creating a skills-to-opportunity mismatch. Women, in particular, remain overrepresented in low-productivity work and continue to face wide pay and opportunity gaps.
With Ghana’s working-age population projected to expand by 4.8 million over the next decade—reaching 25.3 million by 2035—the report calls for bold policy and structural reforms. These include attracting greater private investment, improving productivity, and strengthening pathways that link education to employment.
Without decisive action, the Bank warns, Ghana risks missing the demographic dividend of its growing workforce, leaving millions trapped in low-income and insecure work despite an expanding economy.
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