Ghana has been grappling with an alarming rise in unemployment rates, reaching a staggering 1.85 million unemployed individuals in the third quarter of 2023 according to the Ghana Statistical Service.Despite this concerning trend, the President's silence on the matter during the 2024 State of the Nation Address has raised eyebrows about the government's response to this critical issue.

Adding to the gravity of the situation, the World Economic Forum's 2024 Global Risk Report has now identified "unemployment" as the highest risk factor in Ghana.This signifies a significant structural decline in work prospects and standards, encompassing issues such as erosion of workers' rights, stagnant wages, increased unemployment and underemployment, as well as challenges stemming from automation or the green transition, all contributing to stagnant social mobility.

The latest labour statistics from the Ghana Statistical Service paint a worrisome picture, showing an upward trajectory in Ghana's unemployment rate from 5.3% in 2010 to a concerning 14.7% by the third quarter of 2023.This translates to approximately 1.85 million Ghanaians facing joblessness.

Beyond unemployment, the report highlights other pressing risks such as public debt, inflation, cybercrime, and economic downturn, ranking them in descending order as the 2nd, 3rd, 4th, and 5th risk factors respectively.Ghana's current public debt stands at GHS 567.3 billion, averaging GHS 18,300 per capita, while inflation remains in double digits at 23.2% as of February 2024.

Addressing cybersecurity concerns, Ghana ranks third in cyber security readiness in Africa, according to the International Telecommunications Union.However, reports from the Media Foundation for West Africa and the Bank of Ghana highlight significant financial losses due to cybercrime, underlining the urgent need to bolster cybersecurity measures.

The Global Risk Report underscores the multifaceted nature of risks faced by Ghana, spanning economic, environmental, geopolitical, societal, and technological realms, encompassing 34 risk factors in total.