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Last Updated: 26/5/2006
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A total of 458,900 new jobs were created in the year 2005. Of the total 44,500 jobs were from the modern sector and 414,400 in the informal sector.
This was as a result of the economic growth of 5.8% a performance not seen for the last 10 years. The future is bright that the economic growth is forecast at 6% in the financial year 2005/6.
Key factors
- Public Sector wage bill increased by 8.4% from KSh 184.0 billion in 2004 to 199.4 billion in 2005.
- Private Sector wage bill rose by 23.3% from KSh 322.5 billion in 2004 to 397.5 billion in 2005.
- Public sector Wage employment declined by 0.6%.
- Total nominal wage bill increased by 17.8% from KSh 506.5 billion in 2004 to 596.9 billion in 2005.
- Overall inflation rate declined from 11.6% in 2004 to 10.3% in 2005.
- Underlying inflation however, increased from 6.8% in 2004 to 7.4% in the year 2005 mainly due to high international oil prices and electricity costs.
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