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Salaries plunge in real terms for three consecutive years
KNBS Director General Macdonald Obudho (left), Treasury Cabinet Secretary Njuguna Ndung'u (centre) and Economic Planning PS James Muhati at KICC in Nairobi during the launch of Kenya National Bureau of Statistics 2023 Economic Survey on May 3, 2023. PHOTO | EVANS HABIL | NMG
Inflation wiped out the 5.6 percent salary increase offered to the private sector workers last year, making it the third year in a row when pay rises lagged behind the soaring cost of living.
The findings of an annual economic survey by the Kenya National Bureau of Statistics (KNBS) show average earnings for workers in the private sector recovered from 2021 when it grew 2.6 percent and 3.6 percent in 2020.
