Poverty and Economic Challenges: Policy Gaps Analysis

IEA-Kenya
Theme: Economic Policy

Poverty and Economic Challenges: Policy Gaps Analysis    File Size: 0 kB Downloads: 54
Post Date:
17 January 2020

About 1 out of 3 people in Kenya live below the international poverty line. The poverty rate has reduced over the past decade from 45.2% in 2005/06 to 36.1% in 2015/16 despite shocks to consumption following the slowdown of growth in 2008. The quest to eradicate poverty has been incorporated in various policies since Kenya’s independence with the government launching its Big 4 Agenda aimed at accelerating poverty reduction and drive inclusive growth. Kenya’s development efforts are built on ‘Vision 2030’, the nation’s foundational development plan.


Youth Unemployment in Kenya: Policy Gaps Analysis

IEA-Kenya
Theme: Economic Policy

Youth Unemployment in Kenya: Policy Gaps Analysis    File Size: 0 kB Downloads: 51
Post Date:
17 January 2020

Kenya is a youthful country and indeed youth unemployment is the key labour market policy challenge. With the youth, comprising nearly 30% of the total population and about half of the total working-age population, they are the largest unemployed demographic. In fact, the unemployment rate for the youth
aged between 15-19 and 20-24 years is five times that of the national unemployment rate of 7.4% by 2015/16. This is exacerbated by more than 800,000 of them entering the job market annually. There are variations in youth unemployment, for instance by gender, with the education level a key determinant. Breakdown of the employment picture further lays bare the labour market challenge, with over 80% of all jobs created in the informal sector, where 41% of the youth are absorbed, thus vulnerable.


Poverty and Economic Challenges in Kenya

IEA-Kenya
Theme: Economic Policy

 Poverty and Economic Challenges in Kenya    |   File Size: 108 kB Downloads: 50   |   Post Date: 15 January 2020

Kenya’s economy is a leader in eastern Africa, growing at about 6.3% in 2018. Despite the fact that Kenya is considered an economic leader in eastern Africa, the World Poverty Clock states that about 8.6% of Kenyans are living in extreme poverty consuming less than $1.90 per day. The poverty escape rate is recorded at 0.8 people per minute compared to the targeted rate of 1.5 people per minute. At the current pace of poverty reduction, about one percentage point per year, Kenya cannot eradicate poverty by 2030, as shown by data in the Kenya Economic Update 2018.


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