ABSTRACT
Ghana’s economic growth performance has been easily one of the better known in Sub-Saharan Africa over the past three decades. The country’s annual growth performance averaged 5.1 per cent between 1984 and 2010. A rebasing of the country’s national accounts in 2006 pushed the country from being lower-income to the ranks of lower-middle-income countries with an annual average real GDP growth of about 8.5 per cent during 2006–11. The good growth performance has not, however, been reflected in the generation of productive, decent and sustainable employment. It is estimated that the employment elasticity of output dropped from an average of 0.64 in 1992–2000 to 0.52 and 0.4 in 2001–04 and 2005–08, respectively (ILO, 2008a).
