There is a likelihood of a surge in employment opportunities in Kenya. This is according to a survey report from private-sector manufacturing firms in the country.
According to the Purchasing Managers Index (PMI) survey, staffing and inventories showed further growth, indicating potential expansion opportunities and thus, an increase in employment.
The survey members also linked the prospects of increased employment to stabilising demand conditions and increasing marketing efforts.
The potential increase in employment was further attributed to an improvement in the country's economic outlook which helped bolster businesses across the country.
An improvement in the economy was credited to a drop in inflation and the progressive recovery of the Kenyan shilling against the dollar.
Lower inflation trends boosted demand for goods and services and supported expansion plans, with services and wholesale and retail firms being the most advantaged by the drop in inflation.
“Positively, firms continued to hire and increase inventories because they foresee improved demand,” noted an economist.
“Further, staff costs were stable for a second month in March,” the economist added.
Nonetheless, the report similarly pointed out a slight deterioration in operating conditions across the private sector.
This was attributed to lower new order intakes and cash flow problems for some businesses. The headline PMI registered below the 50.0 neutral mark in March, falling to 49.7 from 51.3 in February this year.
"The reading was the lowest recorded for three months and signalled a slight decline in operating conditions," read part of the report.
"The decline in new orders signalled by the survey was only fractional, however, as firms reported an easing of price pressures that supported customer spending."
