Despite Ghana’s growing economy, many workers are not seeing meaningful improvements in income or job security, with much of the workforce effectively “running on a treadmill,” according to the World Bank’s latest Ghana Economic Update.
From 2012 to 2023, the country added 720,000 jobs in industry and services, but lost 470,000 jobs in agriculture. Urban areas took in 2.4 million more working-age individuals during this period, yet real wages declined by 3%.
The report highlights that job creation is falling short of keeping pace with population growth. Youth participation in the labor market is shrinking, and around one million young Ghanaians have migrated abroad in search of better opportunities.
Sectors typically known for upward mobility—such as manufacturing, construction, and domestic services—remain among the slowest to grow. Meanwhile, the return on education is diminishing, as the number of graduates continues to outstrip the supply of quality jobs.
The report also underscores ongoing gender disparities, with women largely concentrated in low-productivity jobs and facing persistent gaps in pay and career advancement.
Looking ahead, Ghana’s working-age population is expected to grow by 4.8 million by 2035, reaching 25.3 million. The World Bank is urging comprehensive reforms to boost private investment, improve productivity, and create better connections between education and employment.
Without such measures, the Bank warns that many Ghanaians will continue to “work hard but go nowhere.”
