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Jobs growth accelerated in December 2017 – Report

January 22, 2018 3:30 PM
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Jobs growth accelerated in December 2017 – Report

The rate of job creation in Ghana accelerated in December 2017, according to the Standard Bank Ghana Purchasing Managers Index (PMI).

The Ghanaian economy is one that has seen a lot of unevenness and inconsistency in growth patterns.

An issue that remains a concern in most reports on the economy is the rate of unemployment and underemployment, especially among the youth.

This poses a herculean task for policymakers over the years, who have tried to lessen if not eradicate the problem.

According to the report, the month of December constituted the sixteenth successive month in which staffing levels were increased.

This increase was a response to higher output requirements leading to the increase rate recorded for job creation for the month of December.

The PMI also reported that, Ghanaian companies recorded solid increases in business activities in December.

According to respondents, higher new orders alongside good quality products and services, had been behind the upturn in output.

As a result, charges rose at a marked pace, the sharpest since March. This further indicates an increase in output prices in each of the past six months.

Overall input prices increased sharply at the end of 2017, and to the greatest extent in nine months.

The Standard Bank Ghana Purchasing Managers’ Index is based on data compiled from monthly replies to questionnaires sent to purchasing executives in approximately 400 private sector companies, which have been carefully selected to accurately represent the true structure of the Ghanaian economy, including agriculture, construction, industry, services and wholesale and retail.

The panel is stratified by GDP and company workforce size. Survey responses reflect the change, if any, in the current month compared to the previous month based on data collected mid-month.

Source: citifmonline.com

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