The Central Bank of Kenya (CBK) on February 2, released the Monetary Policy Committee Market Perceptions Survey report, detailing the economic prospects of the country for the year 2020.
According to the report, the country's economy is projected to grow creating room for the emergence of job across various sectors.
However, in comparison with a similar survey conducted in November 2020, CBK highlighted the decline in jobs in a number of sectors.
Respondents of the study were required to indicate their expectations with regard to changes in the number of employees in their respective institutions in 2021 compared to 2020.
CBK noted a strong 3 percent decline in employment opportunities within the manufacturing sector, with job opportunities expected to fall by 13 percent.
The non banking private and Trade sectors are also expected to register strong 3 percent declines as well. The former is projected to experience a 13 percent decline in job opportunities and the later a 6 per cent decrease.
In November 2020, the Trade sector registered an employment rate of 53 percent, which has since declined to 43 percent in 2021. The Manufacturing sector stagnated in job creation, however, registered low percentage increase compared November 2020.
CBK attributed the decline to adjustments made by sectors during the course of 2020 in substituting human labour.
"However, some companies expect to leverage on ICT and therefore maintain the current staffing levels," the report reads in part.
The report also highlighted possible stagnation in employment opportunities in some sectors, indicating minimal chances of job openings.
Some sectors are however expected to create more employment opportunities for Kenyans as evidenced by the survey. These include, Agriculture and Banking.
