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Inflation, stagnant wages left workers poorer in 2017
From left: Planning Principal Secretary Julius Muia, Treasury CS Henry Rotich, Nelson Gaichuhie, chief administrative secretary at Treasury and Kenya National Bureau of Statistics director general Zachary Mwangi on April 25, 2018. PHOTO | DIANA NGILA | NMG
Kenyan workers’ take-home pay fell below the cost of living in 2017, weakening consumer purchasing power in an economy that grew at the slowest pace since 2012, according to the 2018 Economic Survey report released yesterday.
Formal sector employees took a pay cut of 2.9 per cent last year when their wages are adjusted for inflation, leaving them in a worse financial position compared to previous years.
