The survey did not capture the educational qualifications of unemployed youth. These people are underemployed in terms of their skills. The statistics office said its survey did not cover areas such as formal and informal work, multiple jobs, earnings, literacy and those not in the labour force. It recommended more research into these topics, with a new survey announced in September
Watch other Export Market Destination videos. Kenya has a market-based economy and is generally considered the economic, commercial, financial and logistics hub of East Africa.
With the strongest industrial base in East Africa, Kenya has been successful in attracting U. An additional attraction for U. Its urban areas, particularly Nairobi, are noted for their large number of well-educated English-speaking and multi-lingual professionals, and for their strong entrepreneurial tradition.
At the same time, businesses operating in Kenya face a number of challenges associated with corruption, unemployment, land titles, security, and poverty. Sustained and significant economic growth is essential if Kenya is to address its development challenges.
However, growth is expected to dip to 5. These elections were the second under a new constitution adopted in One of the most notable changes brought about by the new constitution was a broad devolution of power and responsibilities from the national government in Nairobi to local governments in 47 counties.
This jump in ranking came following a similar improvement of 21 slots in The government has initiated a broad range of business reforms including the areas of starting a business, obtaining access to electricity, registering property, protecting minority investors and streamlining insolvency rules.
Key exports such as tea, coffee and floriculture require little or no processing. The growth is generally attributed to government investment in public infrastructure development projects as well as the real estate sector.
The government is placing a high priority on implementation of mega infrastructure projects road, rail, energy, port and airport modernization. The technology sector is also one of the fastest growing business sectors in Kenya, and internet access rates are some of the highest in sub-Saharan Africa.
The rise of 4G and 4G LTE services and the growth in smartphone usage is influencing growth in e-commerce and other e-based services and innovation. The tourism sector in Kenya is one of the most diverse in East Africa with increased investments in conference, eco and leisure tourism.
Nairobi is the transportation hub of Eastern and Central Africa and the largest city between Cairo and Johannesburg. The Port of Mombasa is the most important deep-water port in the region, supplying the shipping needs of more than a dozen countries. Prepared by our U. With its network of offices across the United States and in more than 75 countries, the U.Unemployment Rate in Kenya averaged percent from until , reaching an all time high of percent in and a record low of 10 percent in In Kenya, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force.
Constrained in by the cessation of activity at both the copper and nickel mine (BCL) and the Lerala diamond mine, growth should resume in The acceleration of the pace of growth will be supported by the extractive industries sector (20% of GDP). The demand for diamonds, which collapsed in , should see a gradual recovery and thus support Botswana’s exports, with the latter also.
The World Bank Group works in every major area of development. We provide a wide array of financial products and technical assistance, and we help countries share and apply innovative knowledge and solutions to the challenges they face.
In /, the open unemployment rate among the youth ages as estimated by the Kenya National Bureau of Statistics, was 24% compared to an overall open unemployment rate of %.
Open unemployment rate in urban areas at 9% is more than double that in rural areas. If you've ever lost your job after the holiday season, you've experienced at least one type of unemployment.
In this lesson, explore the three types of unemployment including cyclical, frictional.
Kenya Economic Outlook. August 21, Get a sample report showing all the data and analysis covered in our Regional, Country and Commodities reports. Download. Kenya Facts.
The latest national accounts data released by Kenya’s National Bureau of Statistics on 29 June published GDP figures for both the final quarter of last year .