 This paper was authored by me and my mentor in society. So it's the same paper, but I have done some updates, at least to give the current situation as we have in Ghana. And this will be the outline. I will start by looking at economic growth, look at employment and employment, poverty and inequality, and then look at employment response to growth and how poverty has also responded to growth as well and employment, and why the question, why we are here and then the conclusion. Now I think the story about Ghana, since we recovered from recession in the early 1980s, we haven't looked back. The country hadn't looked back. We haven't gone back to any negative growth. I mean, growth has been quite strong. And in 2014, the country grew by 14%. So that shows how the country is doing. And we managed to attain middle income status, of course, after we did our rebasing. But one major challenge has been drop creation and inequality. So this is the economic growth pattern. So you look at 1980 to 2016. So you can see that before 1984, we had negative growth. And since then, we've been up there. And the average look at is better than the social average. Then in terms of sectoral composition trend, you realize that now we are moving from agric to service. So the green one is shrinking, while the blue one is expanding. And in the middle, you see the yellow one, which is manufacturing, which is also shrinking. So there seems to be some kind of missing middle that the country is confronted with. Now this is employment and unemployment situation. And this is about employment. And you look at employment in terms of sectoral distribution. It mirrors the changing trend in the structure of the economy. And now you can see that in terms of employment, service account for the largest, about 46% followed by agriculture. But if you look at the trend from 1984, it used to be agriculture being the dominant source of employment followed by service. But the table has turned, which is in line with the structure change in the economy. And of course, in terms of quality of employment, informality is quite pervasive. And vulnerable employment is also high, which is the fact that more than two-thirds of people who are working are in vulnerable employment. Productive employment is just about a quarter. Now about unemployment rates. I will not go deep into the conceptual issue. But if you look at unemployment, you realize that since 2006, we seem to be having worsening unemployment situation. The youth is the one in red. And then the overall 15 and above is the blue one. So unemployment rate currently, of course, in 2015, will be about 6.5%. But in terms of the youth, you have it also around 15%. Now, of course, unemployment rate happens to be higher among the educated than the uneducated. And from 2009 to 2015, you see that kind of trend. And interestingly, the high unemployment rate is among those with secondary school education or high school education. And yesterday, when Professor Insahiti was making the point about free senior high school, it means that so are we making people acquire senior high school education and become unemployed? So what measures are we putting in place to ensure that when they get there, unemployment will not be a big issue? And just to tease out about unemployment rate 2015 by a program of education for the educated labor force, you realize that unemployment rates lowest when it comes to those who pursue courses in education, but highest in terms of those with social science, business, and so on. So it also has something to do with the kind of program that you pursue. If you look at health engineering, they are at the lower end. Now I talk about poverty. Poverty in Ghana has been declining since 1991. So after 2013, we had that kind of declining poverty. But unfortunately, the recent data shows that between 2013 and 2017, there was a marginal decline in poverty. So from 24.2% to 23.4%. So that is the marginal decline of poverty over the last four years. And extreme poverty also declined marginally. But inequality had been increasing. So before 2017, we had declining poverty, inequality increasing. But now poverty is becoming a problem, and inequality is still worsening. So that also brings a new dimension to Ghana's structure. And the absolute poverty between 1991 and 2013, the number of people found to be poor, have been declining after 2013. But in 2017, it went up. So in Ghana, about 6.8 million people are known to be poor from 6.4 million in 2013. And of course, by 200,000 increase from extreme poverty. Now so how does employment respond to growth in all these? Employment growth is found to lag behind economic growth. And as you can see in the graph, the green one being growth of employment, and the red one being economic growth. So anytime we have economic growth, we respect that the rate of growth will not be marked by employment. So we tried to capture the elasticity of employment as a result of output. And on average, between 19 and 2013, it was 0.6. So it means that if economy grows by, let's say, 1%, we expect employment to grow by 0.6%. And when we extended it to cover 2017, we had 0.593, which is almost the same. Then we tried to look at regression to capture the elasticity. And when we do the controls with all the basic econometric diagnostic done, we realize that the employment elasticity is just about 0.2. So from the regression, you read that when we have a 1% growth of the economy, it's just 0.2% employment growth. So that means employment to respond to economic growth is quite limited. And that is why we had those employment challenges there. And this is about poverty. And this poverty responds to employment. Poverty responds to productive employment. Of course, if you have more productive employment, you are bound to reduce poverty quite drastically. That is why the elasticity is higher for productive employment than, of course, if you have the overall. But poverty responds to growth. Between 91 and 2017 is 0.087. And that is the elasticity. So even though we are growing, how does poverty respond? It used to be high between 1991 and 1999. And it went down in 1999 to 2006. Appreciated a bit in 2013. And then went up again in 2013, 2017. But the average from 19 to 2013 is 0.087. So the why are questioned. Now, we have had this situation because we make the point that it has demand and supply kind of costs. So growth driven by low labor abortion sectors like extractives. And of course, over the last two or three decades, the extractive sector has been the driving force of Ghana's growth. And when we discovered oil, it even made it higher. We also have finance as well. But it looks like employment capacity or employment absorption capacity there is not as high as you find in agriculture, manufacturing, and tourism. What I've seen is growth shrinking. And in size also shrinking as well. And this is the evidence to show you that between 2007 and 2017, the agriculture grew by 4.2%, manufacturing 3.2 on average, compared to extractive 27.8% and finance 12.0%. So from the growth perspective, see that these sectors that are considered by the literature as not high labor absorption sectors are growing so fast. But those that we expect to be generating the employment labor intensive sectors are having growth. And of course, because of that, the size of the high labor absorption sectors declining, while that of high low employment domestic sectors are also growing. Then we look at the supply size. So we have the low quality of labor and slow pace of improvement in that. So this is about the educational attainment of the labor force. And as of 2015, just about 10.3% of the 16 million labor force have just a tertiary education. So you have 23.5% with no education. 49.5% having basic education. And if you combine these two, that gives you about 70%. And that also explains why we have high informality. Because in fact, if you have majority of the labor force having just basic education, then the place for them will be the informal sector. The formal sector captured with educated one. And that also explains why, perhaps, finance may not also generate that kind of employment. Because it is a sector that attracts people with that high scale. And if you have that limited number of people with that high scale, then you are going to have that challenge. Then we have scale mismatch concern in Ghana. So it's about the humanities and STEM. So this is just to tell you that between 2000 and 2014, the educational output of public universities favored those in the humanities. So education and social science in 2014 account for about 60, almost 70% of output. Well, we have business architectural planning, applied science and health, counting for the remaining 30%. So when we have that kind of mismatch, you are also bound to have the employment challenge. And this is about the polytechnic, which are now technical universities. The same situation is found. Engineering and tech is just only 2.3% in 2015, compared to 77.7% for those in business and management. So in conclusion, what are we saying? We are saying that growth driven by natural resource exploitation without value addition has adverse implications for jobs and inequality. And even though we have structure change from agriculture to service with a missing middle, this constrained generation of productive employment amaze income inequality. And of course, if we are able to link agriculture with light manufacturing, it could be the source of reversing the joblessness in a strong growth economy like we have in Ghana. So thank you.