New report warns of jobs time bomb
BUSINESS
Emmanuel Akenya, a Kenyan youth working with China Road and Bridges, tightens railings that will form Wangige underpass pillars in Kiambu County. [Denish Ochieng, Standard]
About 10 million people will join the labour force in Kenya over the next decade.
This will present a major challenge for a country whose industries have been struggling to create jobs even before the pre-coronavirus pandemic era.
A new World Bank reports notes that over the next ten year period, between 2020 and 2029, over a million young people will join the labour force every year.
This is even as Kenya struggles to create more jobs, with many sectors having shed jobs between 2015 and 2019.
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Kenya s economy posts snail s pace growth on corona effects by SUSAN NYAWIRA
According to the Kenya Economic Update covering 12 months between March 2020 and March 2021, the country s economic growth has shrunk to 0.4 per cent compared to 5.4 per cent in a similar period last year.
Kenya s economy is expected to expand at the fastest rate compared to her peers in Africa, IMF has noted.
Kenya s current path in handling the Covid-19 pandemic in 2021 has shown positive effects in the economy, this compared to the same period in 2020.
According to the Kenya Economic Update by Worldbank covering 12 months between March 2020 and March 2021, the country s economic growth has shrunk to 0.4 per cent compared to 5.4 per cent in a similar period last year.