Things are falling so fast, the centre can no longer hold, the country risks plunging into crisis, if managers of the economy, do not rise to the challenge.
The president, Akufo-Addo and his team, are yet to declare that, the country is in depression, but the rate at which businesses are closing down and jobs being lost, we are in an economic meltdown.
This year can be described as year of job losses. In the face of massive job losses, we are being told by managers of the economy that, the fundamentals are strong.
It is only in this part of the clime that, when fundamentals are strong, things look bad and gloomy. Despite the erratic nature of the United States of America (USA) president, Donald Trump, since he took the oath of office, unemployment rate in the country, has been reducing.
According to the Bureau of Labour Statistics, under the U.S Department of Labour, employment in July this year rose by 157,000, and the unemployment rate edged down to 3.9 percent. Employment increased in professional and business services, in manufacturing, and in health care and social assistance.
In Ghana, it is the reverse, as since 2017, more jobs have been lost than created. According to Ghanaweb, more than 200 workers of Central University, are expected to be laid off. The website in March this year quoted the registrar of the institution Mr Emil Afenyo.
In a voice recording, while addressing 67 persons, including Junior and Senior staff who were recently sacked, following claims by management it is implementing a staff rationalization exercise to reduce the wage bill and improve efficiencies in customer support, service delivery and administrative excellence, the Registrar is heard lamenting about the poor finances of the institution.
“In that document, the mandate they have given us is to reduce the staff cost by 40%. We have approximately 500 staff. So if you’re going to reduce the cost by 40%, you can imagine the number of staff that must be laid off”, Mr Afenyo revealed.
Adomonline.com, reported earlier this year that, Fuel stations in Ghana are threatening to lay off up to 4000 workers very soon due to the continuous fall in their sales across the country.
Head of the Association of Oil Marketing Companies (AOMC) revealed in an interview with Adomonline.com that his members would have to travel that path in the near future because their sales have declined enormously in recent times.
Some stations in the northern part of the country, he hinted have already started laying off the workers. He said this is attributable to the increasing activities of black market fuel dealers in the country.
“The implication of this black market on the OMC is that we can’t meet over big overheads and if this continue, then we would have no option than to lay people off…our overheads are big so if we don’t make the volumes as it is now when some people are even making one-tenth of the volumes, we have no choice than to lay people off…,” he said.
citibusinessnews.com, carried a story captioned “Over 400 workers lose jobs in Tema…as steel factory closes”
According to the story, about 400 workers of a steel company in Tema, Rider Steel Ghana Limited have been laid off due to the company’s inability to pay for what they describe as unfair and high electricity tariff.
In July this year, Kasapafmonline, also carried a story headlined “Troubled BXC lays off 200 workers by Sept”.
The portal said “At least 200 workers of the BXC Company Limited will be laid off in the coming days, management of the company has hinted”.
These are but few of the reported instances of loss of jobs. This government is only big on promises but small in delivery.
Unfortunately, the private sector, which has been touted as the engine of growth, is the one laying off workers and closing down.
It is our candid opinion that the New Patriotic Party (NPP) that came to power on the back of an electioneering promise to create jobs for the unemployed must find a creative way of tackling this challenge before it becomes unmanageable