The informal sector has continued to create more employment opportunities compared to the formal sector. This year the sector has created 762.1 thousand new opportunities which have accounted for 83.6 percent of the total employment created in the period under review.
Despite Kenya’s economic growth with a total of 840.6 thousand jobs created in 2018 which is a rise from 833.1 thousand as recorded in 2017. The number of self-employed and the unemployed has risen from 139.4 to 152.2 thousand in 2018 which has seen more graduates go unemployed in the industry.
With Kenya facing corruption challenges, the report has highlighted that Kenya is currently on the right track having a GDP estimated to increase by 6.3 percent in 2018 from 4.9 percent that of 2017, this growth is attributed to agriculture, manufacturing and the transport sector.
Agriculture has remained to be the highest contributor in the economy where it has contributed to an increase in 6.6% in 2018 rising from 1.8% recorded in 2017. This was due to the increased favourable weather conditions for both crops and livestock.
The report also estimated that the overall expenditure by the National Government is expected to grow by 17.8 per cent to KSh 3,033.6 billion. In the review period, recurrent and development expenditure is estimated at KSh 2,392.1 billion and KSh 641.5 billion, respectively.
Globally the economy experienced a downfall where it only had a growth rate of 3.6% in 2018 which is compared to 3.8% in 2017.