Firms freeze hiring on taxes, interest rates pain

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Expensive fuel is one of the pain points after taxes review. FILE PHOTO | FRANCIS NDERITU | NMG

Corporates in Kenya have mostly frozen hiring for the first time in seven months due to rising costs of living that slowed the demand for goods and services, reducing output.

Findings of a closely-watched monthly survey suggested that key economic sectors such as manufacturing, construction, wholesale and retail, services, and mining posted a decline in employment in September, with agriculture the only major sector to report growth in labour capacity.

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Note: The results are not exact but very close to the actual.