The financial and insurance sectors employ the greatest proportion of Kenyans earning more than Sh100,000, indicating an economy with few well-paying jobs and high unemployment.
Following the recovery from the economic hardships of Covid-19, Kenyans’ average monthly income increased at the fastest rate in six years, to Sh20,123.
“Though economic growth has significantly contributed to poverty reduction in Kenya, growth has become less pro-poor in recent years,” according to a World Bank report.
Only 3.3% of the 14,708 wage employees in the mining and quarrying sector earned more than Sh100,000 during the review period.
However, the private sector paid the highest total wage of Sh1.64 trillion last year, accounting for 68.4 percent of total wage.
BDA.