Tuesday, June 18, 2024

Most lucrative jobs where employees are taking home over Sh1.5m per year

The Kenya National Bureau of Statistics (KNBS), in its 2024 Economic survey, has revealed that the informal sector created the bulk of new jobs in 2023.

The sector contributed 85 percent, or 721,000 jobs, of the 848 000 new openings reported in the year. Overall, the nominal wage bill rose by 7.0 percent, from KSh 2,607.6 billion in 2022 to KSh 2,789.3 billion in 2023.

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Nominal average earnings in the modern sector per person increased from KSh 864,750.1 per annum in 2022 to KSh 888,743.5 per annum in 2023.

KNBS highlighted some of the sectors with the highest-paying jobs. Eight sectors paid their employees Ksh1.8 million or more in 2023.

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Among the sectors with handsome wages were extraterritorial organisations and bodies which paid their employees an average of Sh4 million or a monthly salary of Sh333,000.

Kenyans employed in the public sector for accommodation and food activities were the second highest-paid employees with an annual income of Ksh2.8 million.

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They were followed by those in the public transport sector who took home an annual salary of Sh2.4 million, with those in the private transport sector taking home Sh1.6 million.

During the review period, employees in private companies dealing with electricity, gas, steam and air conditioning supplies earned an average of Ksh2.3 million.

KNBS further noted that employees in financial and insurance activities also took home good salaries with the private sector being the top paying at Sh2.2 million and Sh1.5 million for those in the public sector.

Meanwhile, medical practitioners working in government institutions also topped the top earners’ list with annual average salaries of Ksh1.8 million.

The other two top-paying private sectors were administrative and support service activities (Ksh1.8 million) and professional, scientific, and technical activities (Ksh1.6 million).

According to KNBS, the leading industries with the highest employment levels in the public sector were education, public administration and defense, and compulsory social security, which accounted for 44.9 percent and 34.6 percent of total employment in the sector, respectively.

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