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Kenya is a lower middle income economy, with Kenya's GDP hitting $150 billion as of 2024. This is due to increasing technology innovation services. Although Kenya's economy is the largest and most developed in eastern and Central Africa, 63% (2023/2024) of its population lives below the international poverty line. [1]
Kenya, which one of the quickest growing economies in Sub-Saharan Africa, averaging GDP growth of 5.7% in 2019, has one of the highest youth unemployment rates in East Africa and data from the country's recent census indicates a worsening unemployment for youth aged between 18–34 years.
Kenya is currently the most important source of foreign direct investments in Uganda and Rwanda. Uganda and its neighbouring regions are the main export destinations for Kenyan products. [93] Kenya has had more success in growing its economy and quality of life levels than many of its neighbours in sub-Saharan Africa. [70]
Unemployment is measured by the unemployment rate, which is the number of people who are unemployed as a percentage of the labour force (the total number of people employed added to those unemployed). [3] Unemployment can have many sources, such as the following: the status of the economy, which can be influenced by a recession
Kibera is the largest slum in Nairobi, Kenya.. Poverty in Africa is the lack of provision to satisfy the basic human needs of certain people in Africa.African nations typically fall toward the bottom of any list measuring small size economic activity, such as income per capita or GDP per capita, despite a wealth of natural resources.
Kenya has a labour force of around 24 million and a total labour force participation rate of 74%, the unemployment rate in 2022 was estimated at 5.6% [196] According to the World Bank's 2019 Human Capital Index (HCI), which measured human capital of the next generation, Kenya ranked first in sub-Saharan Africa with an HCI score of 0.52.
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According to the 2009 Kenya Population and Housing Census, Kawangware's population was 133,286 people at this time. It is estimated that 65% of the population are children and youths. Most inhabitants live on less than $2 (although they earn in shillings) a day and unemployment is high; many are self-employed traders.