The manufacturing and finance sectors were the leading employers among enterprises between 2020 and 2022, the 2023 Foreign Investment Survey Report has revealed.
According to the report published by the Central Bank of Kenya (CBK), the manufacturing sector accounted for 25 percent of the employment rate while the Finance sector accounted for 21 percent.
Additionally, the report detailed that compensation of employees in the finance and insurance sector accounted for 47.5 percent of the total compensation of employees within the period.
On the other hand, compensation for those in information and communications, and manufacturing sector accounted for 15 percent and 13 percent of the total respectively.
“The total employment by enterprises which reported FAL increased by 2.0 per cent to 169,209 employees in 2021, and further by 7.5 per cent to 181,956 employees in 2022.
“The increase was reflected in both local and foreign employees. Foreign employees accounted for 1.0 per cent of the total employees from the firms which reported FAL, while in the local regular employees accounted for the largest share at 85.0 per cent,” read the report in part.
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Employment Rates in the Job Sectors
Further, the report detailed that in 2020, foreign companies employed a total of 1,521 employees, 275 female and 1,246 male. On the other hand, local companies employed 165,830 employees, 59,734 females and 106,096 males.
However, in 2021, foreign companies employed 1,644 employees, 328 females and 1,316 males, while in the local industries 69,209 people were employed including 63,011 females and 106,198 males.
In 2022, employers in the local companies hired 181,956 employees. 69,505 of them were female while 112,451 of them were male.
On the other hand, foreign companies onboarded 1,746 employees, 334 were female while 1,412 were male.
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Highest Paying Jobs and Companies in Kenya
According to a May 2024 report by the Kenya National Bureau of Statistics (KNBS), employees working for extraterritorial companies and bodies including the United Nations (UN) and World Bank are the highest paid in Kenya.
The study showed that they earn an average of Ksh339,274 every month.
“During the five-year period from June 2018 to June 2023, total wage employment rose by 9.1 per cent. The public sector recorded a higher growth in wage employment of 18.0 per cent compared to an increase of 5.5 per cent in the private sector
“In the year under review, overall annual average earnings increased by 3.4 per cent to Ksh894,232.8 compared to Ksh864,750.1 in 2022,” the report read in part.
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